BTC/USD declines due to SMA

Note: This section contains information in English only.
Source: Dukascopy Bank SA


Despite piercing the 45,000.00 mark, the BTC/USD did not reach the 50,000.00 level. The pair encountered the 200-day simple moving average near 48,200.00 and started a decline. By the middle of April, the price of the cryptocurrency had passed not only below the 45,000.00, but also the 50-day simple moving average. On April 13, the rate was looking for support in the 40,000.00 mark.

If the price passes below the 40,000.00 mark, support might be found in the 35,000.00 level and the support zone at 33,200.00/34,450.00. Further below, note the 30,000.00 mark and the 28,830.00/29,700.00 zone.

Meanwhile, a potential surge of the price is set to encounter resistance in the form of the 50-day simple moving average near 42,000.00. Higher above, note the 45,000.00 mark and the zone that surrounds it. Above 45,000.00, the 200-day SMA migh act as resistance.
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