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Bitcoin forecast today: $ 43.000 support sold, what happens now

Bitcoin it failed to stay above the $ 43.000 support level, ending up trading in a bearish zone that could cause it to move below $ 41.200.

In fact, as we write this, the currency is painstakingly trying to climb above the $ 42.500 and $ 42.800 resistance levels, trading at $ 43.000 per token and on an important bearish trendline forming with resistance near $ 42.800 on the chart. time of the BTC / USD pair. However, the currency could reverse the trend and initiate a major hike if there is a clear move above the $ 43.000 resistance, driven by good volumes.

Bitcoin's price failed to accelerate above the $ 43.500 resistance zone. As a result, there was a bearish reaction below the $ 43.000 pivot level. The price traded below the support levels of $ 42.500 and $ 42.000. It also traded close to $ 41.500 and settled below the 100-hour simple moving average. A low close to $ 41.579 was formed shortly before the price began an upward correction.

Hence, the Bitcoin price was able to recover above the $ 42.000 resistance zone. On the upside, the initial resistance is near the $ 42.500 level. The next major resistance is near the $ 42.650 level. There is also an important bearish trend line forming with resistance near $ 42.800 on the hourly chart of the BTC / USD pair.

At this point, only a clear and firm move above the $ 42.800 level could help push the price towards the $ 43.500 resistance. Any other profit could possibly require a test of the $ 44.000 resistance zone and, more importantly, a test of the next key resistance, which is near the $ 45.000 level.

Conversely, if Bitcoin fails to trigger a clear rise above $ 42.800, it could continue to move downward. Immediate bearish support is near the $ 42.000 zone. First major support is seen near the $ 41.500 zone. A break to the downside below the $ 41.500 support zone could increase the chances of further downside. The next major support is near $ 40.000, below which bears could take control.

In short, the next support levels to be monitored are those at $ 41.500, followed by that at $ 41.200. On the other hand, as regards resistances, the levels to aim for are those of $ 42.650, $ 42.800 and $ 43.500.

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Roberto Rais

A great cryptocurrency expert and a long time collaborator. He actively follows several specialized Blogs in the cryptocurrency sector as Editors

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