Investing.com – The last few hours of 2021 have been tough for the, which hit a low to $ 45,700 on Dec.31 at around 8 p.m., and although the cryptocurrency has rebounded slightly since then the pressure remains clearly bearish from a perspective. technical.
The hourly chart shows that the rebound from the low on December 31st was stopped by a downtrend line visible from 12/28, and currently located just below $ 48,000.
The same chart also shows that Bitcoin is putting pressure on a support located around $ 45,700, and the breakout of which would constitute a new bearish signal.
The daily chart, which confirms the importance of this support, also shows that Bitcoin has been stuck for a few days by its 200-day moving average, currently located at $ 47,965.
This is therefore the first obstacle to be overcome in order for the technical profile of BTC / USD to improve, but other key barriers will also have to be overcome so that the cryptocurrency returns to a concrete bullish profile, with in particular the major psychological threshold of $ 50,000 and the daily chart resistance at $ 52,000.
On the downside, if Bitcoin breaks below $ 45,700 support, the next potential support will be $ 44,000, before the 4/12 low near $ 42,000, then the psychological level of $ 40,000.
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