Btc USD Medium-Term Trend: Bearish (4H Chart) On the 4-Hour chart,

Moreover, the $40,000 may serve as the nearest support level, which may likely make room for the coin to fall further with the supports of $37,500, $35,500, and $33,500. The Relative Strength Index (14) for the coin nosedives below 47-level indicates a downward movement. Meanwhile, BTC/USD may likely see the resistance levels of $49,000, $51,000, and $53,000 if it finds its way back above the 9-day and 21-day moving averages. / the Bitcoin price hovers around $43,015 and may take time to persistently trade above the 9-day and 21-day moving averages. More so, if the bulls gather enough strength and regroup, the upward movement may be able to near the $45,000 and $47,000 resistance levels. BTCUSD – 4 Hour Chart However, on the downside, immediate support is around the $43,000 level while the main support is at the $42,000 level. The price may likely drop towards the lower boundary of the channel if the bears step back into the market, a further movement could reach the critical support at the $41,000 level and below. However, the Relative Strength Index (14) moves above 45-level, indicating bullish movement. Looking to buy or trade Bitcoin (BTC) now? Invest at eToro! 67% of retail investor accounts lose money when trading CFDs with this provider Read more: