Bitcoin (BTC) PRICE NOW: $47,704.0100000024h change: -0.85% Ethereum (ETH) PRICE NOW: $3,500.8100000024h change: -3.25% Cardano (ADA) PRICE NOW: $2.3970000024h change: -3.61% Binance Coin (BNB) PRICE NOW: $417.0000000024h change: -2.60% HEX (HEX) PRICE NOW: $0.3990052824h change: 0.19% XRP (XRP) PRICE NOW: $1.0807000024h change: -3.44% Solana (SOL) PRICE NOW: $138.9400000024h change: -13.72% Polkadot (DOT) PRICE NOW: $35.3200000024h change: -1.26% Dogecoin (DOGE) PRICE NOW: $0.2495000024h change: 2.05% USD Coin (USDC) PRICE NOW: $0.9997000024h change: -0.03% Uniswap (UNI) PRICE NOW: $25.3800000024h change: -5.61% Terra (LUNA) PRICE NOW: $35.3098806824h change: -4.07% Avalanche (AVAX) PRICE NOW: $61.5300000024h change: 0.58% Chainlink (LINK) PRICE NOW: $29.3600000024h change: -5.92% Binance USD (BUSD) PRICE NOW: $0.9998000024h change: -0.04%
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Bitcoin price is facing hurdles near the $46,000 zone against the US Dollar. BTC could start a major decline if it continues to struggle near the $46,000 zone. Bitcoin is facing a major resistance near $45,600 and $46,200 levels. The price is now trading below $45,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $46,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $46,000 resistance zone to start a steady increase in the near term. Bitcoin Price Faces Hurdles Bitcoin price extended its decline below the $45,000 level. BTC even spiked below the $44,200 support level and settled below the 100 hourly simple moving average. However, there was no downside continuation below $43,500. A low was formed near $43,374 and the price started a steady recovery. There was a break above the $44,200 resistance level. The price broke the 50% Fib retracement level of the recent drop from the $46,879 high to $43,374 low. It is now facing a strong resistance near $45,500 and the 100 hourly simple moving average. The 61.8% Fib retracement level of the recent drop from the $46,879 high to $43,374 low is also acting as a resistance near the $45,550 level. Source: BTCUSD on TradingView.com The main resistance is still near the $46,000 zone. To move into a positive zone, bitcoin must clear the 100 hourly SMA, the trend line zone, and $46,000. The next major resistance is forming near the $47,350 level, above which the price could rise towards the key $48,500 resistance in the near term. More Losses In BTC? If bitcoin fails to clear the $46,000 resistance zone, it could resume its decline. An immediate support on the downside is near the $44,600 level. The first major support is near the $44,200 level. The next key support seems to be forming near the $43,400 level. If there is a downside break below the $43,400 support zone, the price could extend its decline. The next major support on the downside could be $42,000. Technical indicators: Hourly MACD – The MACD is slowly losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now just above the 50 level. Major Support Levels – $44,200, followed by $43,400. Major Resistance Levels – $45,550, $46,000 and $46,200.

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