Bitcoin

Resistance

Bitcoin price struggled to clear the $43,750 resistance. BTC is now declining and there could be more losses if there is a move below the $41,800 level. 
<ul> 
 <li>Bitcoin price is slowly moving lower from the $43,750 resistance zone.</li> 
 <li>The price is trading below $42,800 and the 100 hourly Simple moving average.</li> 
 <li>There was a break below a connecting bullish trend line with support near $42,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li> 
 <li>The pair could continue to decline if there is a close below the $41,800 level.</li> 
</ul> 
<h2 id="bitcoin-price-starts-another-decline">Bitcoin Price Starts Another Decline</h2> 
Bitcoin price attempted more gains above the $42,500 resistance zone. BTC cleared the $43,500 resistance zone, but the bears were active near the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-bulls-keep-pushing-43800/" target="_blank" rel="noopener ">$43,800 zone</a>. 
The bulls made more than two attempts to clear $43,800 but failed. A high was formed near $43,742 and the price started a fresh decline. There was a move below the $43,000 level. Besides, there was a break below a connecting bullish trend line with support near $42,500 on the hourly chart of the BTC/USD pair. 
Bitcoin is now trading below $42,800 and the <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-regains-strength-45k/" target="_blank" rel="noopener ">100 hourly Simple moving average</a>. A low was formed near $41,888 and the price is now consolidating losses. Immediate resistance is near the $42,350 level. It is near the 23.6% Fib retracement level of the downward move from the $43,742 swing high to the $41,888 low. 
The next key resistance could be $42,800 or the 50% Fib retracement level of the downward move from the $43,742 swing high to the $41,888 low, above which the price could start a decent increase. The next stop for the bulls may perhaps be $43,200. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-572619" src="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449" alt="Bitcoin Price" width="1024" height="449" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449?w=1950 1950w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/Bitcoin.png?resize=1024%2C449?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/BTCUSD/" target="_blank" rel="noopener nofollow">BTCUSD on TradingView.com</a> 
A clear move above the $43,200 resistance could send the price toward the $43,800 resistance. The next resistance is now forming near the $44,200 level. A close above the $45,000 level could push the price further higher. The next major resistance sits at $46,500. 
<h2 id="more-losses-in-btc">More Losses In BTC?</h2> 
If Bitcoin fails to rise above the $42,800 resistance zone, it could continue to move down. Immediate support on the downside is near the $41,800 level. 
The first major support is $41,200. The main support could be $40,950. If there is a close below $40,950, the price could gain bearish momentum. In the stated case, the price could dive toward the $40,000 support. 
Technical indicators: 
Hourly MACD – The MACD is now losing pace in the bearish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. 
Major Support Levels – $41,800, followed by $41,200. 
Major Resistance Levels – $42,350, $42,800, and $43,800.

Bitcoin Price Decline To Resume? These Could Be The Factors To Watch

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