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Bitcoin price almost back to USD 43,000 - is BTC breaking through?



The Bitcoin course is almost back at the key Fibonacci support at 43,000 dollars. Will it hold up successfully or will it break through in a bearish way?


Bitcoin course was rejected at around USD 50,000 on the 200-day EMA

The Bitcoin price could not overcome the 200-day EMA resistance. Instead, he was bearishly rejected. The Bitcoin price is currently on the way back to the important Fibonacci support at USD 43,000. The question is whether Bitcoin will ricochet off it again or whether it will break through bearishly.


Bitcoin price does not manage to leave the 50-4H-EMA resistance behind

Over the past few days, the Bitcoin course has failed several times to overcome the 50-4H EMA. In addition, the Death Cross is still intact in the 4H chart. The Bitcoin price is currently tending to decline to the USD 43,000 mark.


Bitcoin price could break through USD 43,000

Once there, Bitcoin could bounce off again very strongly. Because there are several significant Fibonacci supports and also the 50-week EMA. The MACD, on the other hand, signals a continuation of the correction phase. So whether Bitcoin will not break through USD 43,000 in the medium term to return to USD 30,000 remains to be seen. Should Bitcoin actually break through USD 43,000, Bitcoins could bounce off very strongly to USD 30,000, because that is where the last golden ratio support in this cycle is.


BTC rate also rather bearish in the monthly rate

Even in the monthly rate, the BTC rate is rather bearish. The MACD's histogram is ticking bearishly and Bitcoin is moving towards the USD 43,000 support. Should BTC fall below this, massive support is not only waiting for the BTC rate at USD 30,000, but also at around USD 23,000, because that is where the 50-month EMA is located. A little lower, at around USD 20,000, historical support awaits the BTC price.


Despite the bearish outlook, Bitcoin may also rebound sharply at $ 43,000 in an attempt to reverse the trend. BTC has to overcome around USD 53,000 and then break USD 59,000 so that BTC can switch back to a bullish trend.


Bitcoin dominance of important support

The Bitcoin dominance is currently on the historic support between 39 to 41%. BTC already encounters resistance at around 50% of the golden ratio. Should Bitcoin drop below 35%, the era of Bitcoin's dominance could be shaken.

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All information contained on our website has been researched to the best of our knowledge and belief. The journalistic contributions are for general informational purposes only. Any action that the reader takes based on the information found on our website is entirely at your own risk.

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