Bitcoin Price Rejects $43.5K, Why BTC Could Tumble In Short-Term
Bitcoin price attempted a fresh upside break above the $43,500 resistance. BTC failed and corrected lower to test the $41,800 support zone.
- Bitcoin is correcting gains from the $43,500 resistance zone.
- The price is trading above $42,000 and the 100 hourly Simple moving average.
- There is a connecting bearish trend line forming with resistance near $42,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could continue to move down if there is a move below the $41,650 support.
Bitcoin Price Drops Again
Bitcoin price gained pace above the $42,000 resistance zone. BTC even climbed above the $43,000 level, but it faced a strong rejection near $43,500. It seems like the price failed again to clear the $43,500 zone .
A high was formed near $43,464 and the price started a fresh decline. There was a move below the $42,800 and $42,500 support levels. The price even spiked below the 50% Fib retracement level of the upward wave from the $40,514 swing low to the $43,464 high.
Bitcoin found support near the $41,800 level. It is now trading above $42,000 and the 100 hourly Simple moving average . The price is also stable above the 61.8% Fib retracement level of the upward wave from the $40,514 swing low to the $43,464 high.
On the upside, immediate resistance is near the $42,600 level. There is also a connecting bearish trend line forming with resistance near $42,600 on the hourly chart of the BTC/USD pair.
The first major resistance is forming near $43,000. The main resistance is still near the $43,500 zone. A close above the $43,500 resistance might start a steady increase. The next key resistance could be near $44,500, above which BTC could rise toward the $45,000 level.
More Losses In BTC?
If Bitcoin fails to rise above the $42,650 resistance zone, it could continue to move down. Immediate support on the downside is near the $42,000 level.
The next major support is near $41,650. If there is a move below $41,650, there is a risk of more losses. In the stated case, the price could drop toward the $40,500 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.
Major Support Levels – $42,000, followed by $41,650.
Major Resistance Levels – $42,650, $43,000, and $43,500.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
70,000 On-chain Data Reveal Meteora Airdrop: 4 Whale Addresses Take 28.5%, Over 60,000 Retail Users Share Only 7%
The airdrop also involved controversial addresses, including individuals linked to insider trading scandals and large holders with abnormal behavior, which further intensified the community's trust crisis and exposed the project to the risk of class action lawsuits.

The Story of the x402 Foundation: From Advancing the x402 Protocol to Becoming the Golden Key for AI Payments
How does the x402 Foundation turn a single line of code into the golden key for AI payments?

The Return of the Great Sage: How Justin Sun’s “Sun Wukong” Creates a Latecomer’s Contract Legend?
The rise of Sun Wukong not only represents Justin Sun’s strategic positioning in the decentralized contract sector once again, but also symbolizes the resurgence of the Chinese DEX narrative.

JPYC Inc. Launches Japan’s Pioneering Yen-backed Stablecoin
In Brief JPYC Inc. released Japan's first legally recognized yen-backed stablecoin, JPYC. JPYC operates on multiple blockchains and aims to reach 10 trillion yen circulation. Japanese tech and finance firms support JPYC’s integration into various ecosystems.
