Bitcoin price prediction failure to return to $ 45,500 would stake less than $ 44,000

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After a bearish Tuesday, it was a morning for Bitcoin and the broader crypto market.

At the time of writing, Bitcoin, BTC to USD, was up 0.14% to $ 44,758.0.

Another choppy start to the day saw Bitcoin drop to an early morning low of $ 44,266.0 before finding support.

Away from the first major support level at $ 43,702, Bitcoin hit a high of $ 45,581.0 late in the morning.

However, below the first major resistance level at $ 46,428, Bitcoin fell back to levels below $ 45,000.

The rest of the pack

It has been a mixed morning for the broader crypto market.

As of this writing, Cardanos ADA was up 2.00% to lead the way. Ethereum (+ 0.03%) also joined Bitcoin to counter the broader market trend.

It was a bearish morning for the rest of the majors, however.

Crypto.com Coin led the way, sliding 5.35%, with Chainlink down 3.14%.

Binance Coin (-1.91%), Bitcoin Cash SV (-1.13%), Litecoin (-0.72%), Polkadot (-0.29%) and Ripples XRP (-1.94%) however recorded relatively modest losses.

In the early hours of the morning, the total crypto market fell to a low of $ 1.837 billion early in the morning before climbing to $ 1.913 billion. At the time of writing, the total market cap was $ 1.876 billion.

Bitcoin dominance peaked early in the morning of 45.25% before falling to a low of 44.65%. At the time of writing this article, Bitcoin dominance stands at 44.86%.

For the afternoon to come

Bitcoin is expected to retreat to the $ 45,434 pivot to bring into play the first major resistance level at $ 46,428.

However, broad market support would be needed for Bitcoin to break out of the morning high of $ 45,581.0.

Barring a prolonged crypto rally throughout the afternoon, resistance at $ 46,000 would likely leave Bitcoin below the first major resistance level and $ 47,176 on Tuesday.

In the event of a prolonged rally, however, Bitcoin could aim for levels of $ 49,000 before any pullbacks. The second major resistance level is located at $ 48,160.

Failure to return to the pivot of $ 45,434 would bring into play the first major support level at $ 43,702.

Unless there is an extended sale on that day, Bitcoin is expected to avoid levels below $ 43,000. The second major support level is at $ 42,708.

Beyond the support and resistance levels, we saw the 50 EMA retreat from the 100 EMA and move closer to the 200 EMA this morning. This was after a late bearish cross on Tuesday. We also saw the 100 EMA shrink slightly from the 200 EMA, adding further downward pressure on Bitcoin.

A further narrowing of the 50 EMA on the 200 EMA this afternoon would put support levels on the line.

Bitcoin is expected to return to levels of $ 45,500 to signal a breakout and the elusive $ 50,000 race.

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