Bitcoin Price Technical Indicators Suggest Break Below $37K

newsbtcPubblicato 2022-05-04Pubblicato ultima volta 2022-05-04

Introduzione

Bitcoin is facing resistance near $38,200 against the US Dollar. BTC remains at a risk of more downsides unless there is a move above the $39,000 resistance. Bitcoin is facing...

Bitcoin is facing resistance near $38,200 against the US Dollar. BTC remains at a risk of more downsides unless there is a move above the $39,000 resistance.

Bitcoin is facing a major resistance near the $38,200 and $39,000 levels.
The price is now trading below $38,500 and the 100 hourly simple moving average.
There is a key bearish trend line with resistance near $38,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair must clear the $38,350 and $38,800 resistance levels to start a steady increase.

Bitcoin Price Remains In Downtrend
Bitcoin price attempted an upside break above the $38,800 and $39,000 resistance levels. However, BTC struggled to clear the $39,000 resistance zone and started a fresh decline.
A swing high was formed near $39,170 and the price started a fresh decline. There was a clear move below the $38,800 and $38,500 levels. The bears even pushed the price below the $38,000 level and there was a close below the 100 hourly simple moving average.
A low is formed near $37,507 and the price is now correcting losses. There was a move above the 23.6% Fib retracement level of the recent decline from the $39,169 swing high to $37,507 low.
Bitcoin price is now facing resistance near the $38,350 level and the 100 hourly simple moving average. There is also a key bearish trend line with resistance near $38,350 on the hourly chart of the BTC/USD pair. The trend line is near the 50% Fib retracement level of the recent decline from the $39,169 swing high to $37,507 low.

Source: BTCUSD on TradingView.com
The next key resistance could be near the $38,800 zone. A close above the $38,800 resistance could increase the chances of a clear move above the $39,000 resistance zone.
More Losses in BTC?
If bitcoin fails to clear the $38,350 resistance zone, it could continue to move down. An immediate support on the downside is near the $37,700 level.
The next major support is seen near the $37,550 level. A downside break below the $37,550 support and the recent low might trigger sharp losses. The next major support is $36,500, below which the price could dive to $35,000.
Technical indicators:
Hourly MACD – The MACD is slowly losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $37,700, followed by $37,550.
Major Resistance Levels – $38,350, $38,800 and $39,000.

Letture associate

Sales Director Consulted with DeepSeek, Lost Job and 5 Million Rubles

Babuskinsky District Court of Moscow upheld the lawful dismissal of Ekaterina Remizova, sales director at GK Energoprof, for disclosing trade secrets. The employee was found to have forwarded company documents, including tender participation details and colleagues' salary data, to her personal email. Furthermore, she uploaded confidential reports with sales statistics, financial metrics, and cash flow data from the company's internal PowerBI resources into the external AI service DeepSeek. The court ruled that uploading such protected information into the DeepSeek AI system itself constitutes disclosure. An additional ground for dismissal was her disclosure of strategic company plans to a supplier, after which the counterparty ceased communication. The employer also cited systematic failure to meet sales targets. Following her dismissal, Remizova sued, demanding the termination be declared illegal, changed to "by mutual agreement," and seeking a contractual "golden parachute" of 5 million rubles. The court rejected the 5 million ruble claim, as such payment was only stipulated for mutual agreement or redundancy. While one disciplinary penalty was deemed unjustified, ordering the company to pay 10,000 rubles in moral compensation, the court largely sided with the employer, refusing to recognize the dismissal as unlawful. The case highlights risks associated with using external AI services. A security expert noted that DeepSeek's "Share" function creates links that can be indexed by search engines like Google, potentially turning temporary shares into permanent, publicly accessible digital traces containing corporate data.

cryptonews.ru11 min fa

Sales Director Consulted with DeepSeek, Lost Job and 5 Million Rubles

cryptonews.ru11 min fa

XRP Price Forecast: Can Reduced Leverage Support a Recovery Above $1.13?

XRP price continues to trade in a narrow range around $1.11 after weeks of selling pressure. It remains below all key moving averages, indicating sellers still hold the advantage on higher timeframes. The market shows indecision, consolidating between $1.07 and $1.12. A decisive move above the 50-day EMA near $1.1375 is needed to improve sentiment and target resistance at $1.18 and $1.23. Conversely, a break below the $1.0757 support could lead to a retest of the recent low near $1.0088. Key metrics suggest a shift in market dynamics. Open interest in futures has significantly declined from over $10 billion, indicating leveraged positions have largely exited, reducing liquidation risks. Meanwhile, consistent exchange outflows show investors are holding XRP rather than preparing for immediate sales, providing underlying support. The technical outlook remains neutral to slightly bearish in the short term. XRP is consolidating after a correction, with the ADX indicating weak trend strength. The path forward depends on whether buyers can hold support and regain the $1.1375 level to initiate a sustainable recovery.

cryptonews.ru54 min fa

XRP Price Forecast: Can Reduced Leverage Support a Recovery Above $1.13?

cryptonews.ru54 min fa

Bitmine Has Increased Its Corporate Ethereum Reserves

Bitmine Immersion Technologies continues to aggressively accumulate Ethereum (ETH) for its corporate reserves, despite the current market value of its holdings being significantly below its average purchase price. Last week, the company added 9,946 ETH. This follows a massive purchase of over 52,000 ETH in June, after which the pace of accumulation slowed but regular buying continued. The accumulation program began on June 30, 2025, marking a strategic shift for the company from primarily Bitcoin mining to building a major treasury based on Ethereum. Bitmine's stated long-term goal is to hold 5% of Ethereum's total supply. Following the latest purchase, Bitmine's reserves have grown to 5.8 million ETH. However, the company's average acquisition cost is nearly double the current market price, meaning its position is currently at an unrealized loss. Despite this, management remains committed to the strategy, viewing current prices as a temporary phase and not a reason to sell. This persistent accumulation solidifies Bitmine as one of the largest corporate holders of ETH and a significant influence on institutional demand for the cryptocurrency.

cryptonews.ru56 min fa

Bitmine Has Increased Its Corporate Ethereum Reserves

cryptonews.ru56 min fa

A Serious Threat is Looming for Bitcoin (BTC) and Cryptocurrencies: They Could Be the First Target!

The rapid advancement of quantum computing poses a serious threat not only to cryptocurrencies but to the entire encryption system, including banking. However, experts warn that the cryptocurrency market might be the first sector to suffer from this transformation. As predictions of a 'Q-Day' approach, the slow governance processes of cryptocurrencies, rather than their cryptography, could become the biggest obstacle to defending against quantum attacks. Quantum Xchange CEO Eddy Zervigon has compared cryptocurrencies to "canaries in the coal mine," stating that the first successful quantum-powered cyberattack is likely to target decentralized blockchain networks. While a cryptographically relevant quantum computer capable of breaking the elliptic curve cryptography underlying Bitcoin's signatures and banking security does not yet exist, work by giants like Microsoft, IBM, and Google suggests the threat is nearer than previously thought. The industry consensus estimates such a computer could emerge around 2029. Supporting this view, recent Google research indicates the number of physical qubits needed to break the cryptographic systems protecting Bitcoin and Ethereum has decreased by about 20 times compared to prior estimates, highlighting the accelerated danger. Zervigon concludes that Bitcoin's greatest risk lies not in its current cryptographic system, but in the slow pace of implementing major network upgrades.

cryptonews.ru57 min fa

A Serious Threat is Looming for Bitcoin (BTC) and Cryptocurrencies: They Could Be the First Target!

cryptonews.ru57 min fa

Crypto Outperforming Stocks: How Digital Assets Are Withstanding Macroeconomic Pressure

Crypto Outperforms Stocks Amid Macro Pressure Trading firm QCP Capital's report analyzes the divergent performance of crypto and stock markets ahead of the July 29 FOMC meeting. While major US stock indexes showed mixed results, with tech weakness pressuring the Nasdaq, crypto assets like Bitcoin (up ~11.6% in July) and Ethereum (up ~24.6%) have outperformed despite a challenging macro backdrop, including rising Treasury yields and risk-off sentiment. Key focus points include the upcoming Fed decision and commentary from Chair Kevin Warsh, which could signal the regulator's stance on inflation and growth. Spot Bitcoin and Ethereum ETFs saw a net outflow of ~$311 million on July 24, ending a seven-day inflow streak, highlighting shifting institutional sentiment. Option market data reveals increased demand for downside protection, indicating caution, though constructive long-term positioning remains. Implied volatility for Ethereum trades at a premium to Bitcoin, and perpetual funding rates stay positive. The week's key events are the FOMC decision, Treasury yield movements, ETF flow trends, and US regulatory developments like the CLARITY Act. The market balances crypto's resilience against growing option market caution, with the Fed's decision poised to tip the scales. Analysis compares the current Fed pause to historical rate-cutting cycles, questioning whether crypto's strength can persist if monetary policy tightening persists.

cryptonews.ru1 h fa

Crypto Outperforming Stocks: How Digital Assets Are Withstanding Macroeconomic Pressure

cryptonews.ru1 h fa

Trading

Spot