Bitcoin's Trading In $41,000 Range, More Downsides?
Bitcoin price failed to break the $45,000 resistance yesterday. BTC is now hovering around 
41K and has a risk of more downsides below $42,000 according to the hourly chart below. Meanwhile, it is now trading below the 100 hourly simple moving average.
The open price of today's was $42,150, and it seems there was no upside continuation above $45,000. The first major resistance is near $43,000. If the price could close above $43,000, Bitcoin would have a chance to start an increase. Due to the news of many exchanges are going to expelling their Chinese users, the price of Bitcoin could be in a low mode in a certain period of time.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bearish zone.
Hourly RSI – The RSI is now below the 40-level.
Major Support Levels – $41,000, followed by $40,700.
Major Resistance Levels – $42,800, $43,000 and $44,500.
41K and has a risk of more downsides below $42,000 according to the hourly chart below. Meanwhile, it is now trading below the 100 hourly simple moving average.The open price of today's was $42,150, and it seems there was no upside continuation above $45,000. The first major resistance is near $43,000. If the price could close above $43,000, Bitcoin would have a chance to start an increase. Due to the news of many exchanges are going to expelling their Chinese users, the price of Bitcoin could be in a low mode in a certain period of time.
Technical indicators:
Hourly MACD – The MACD is slowly gaining pace in the bearish zone.
Hourly RSI – The RSI is now below the 40-level.
Major Support Levels – $41,000, followed by $40,700.
Major Resistance Levels – $42,800, $43,000 and $44,500.
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