Bitcoin worth is consolidating above the $25,500 stage. BTC may begin an honest improve if there’s a shut above the $27,000 resistance.
- Bitcoin is struggling to clear the $26,500 resistance zone.
- The worth is buying and selling close to $26,100 and the 100 hourly Simple shifting common.
- There was a break under a connecting bullish development line with assist close to $26,400 on the hourly chart of the BTC/USD pair (information feed from Kraken).
- The pair may proceed to commerce in a spread earlier than the following main transfer.
Bitcoin Price Slides Again
Bitcoin worth began a restoration wave above the $26,250 resistance level. BTC even cleared the $26,500 stage however the bears have been energetic close to the $26,750 zone.
A excessive was fashioned close to $26,779 and the worth began a contemporary decline. There was a transfer under the $26,500 stage. The worth declined under the 50% Fib retracement stage of the restoration transfer from the $25,360 swing low to the $26,779 excessive.
Besides, there was a break under a connecting bullish development line with assist close to $26,400 on the hourly chart of the BTC/USD pair. The pair examined the 61.8% Fib retracement stage of the restoration transfer from the $25,360 swing low to the $26,779 excessive.
Bitcoin is buying and selling close to $26,100 and the 100 hourly Simple moving average. On the upside, fast resistance is close to the $26,400 stage. The first main resistance is now close to the $26,780 stage, above which the worth may rise towards the $27,000 resistance.
Source: BTCUSD on TradingView.com
To begin a robust improve, the worth should settle above the $27,000 resistance. In the acknowledged case, the worth may check the $27,800 stage. Any extra good points may set the tempo for a bigger improve towards $28,200.
More Losses In BTC?
If Bitcoin fails to clear the $26,400 resistance, it may proceed to maneuver down. Immediate assist on the draw back is close to the $25,900 zone.
The subsequent main assist is close to the $25,400 stage. A draw back break under the $25,400 stage may push the worth once more right into a bearish zone. In the acknowledged case, the worth may drop towards $24,800.
Technical indicators:
Hourly MACD – The MACD is now dropping tempo within the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now under the 50 stage.
Major Support Levels – $25,900, adopted by $25,400.
Major Resistance Levels – $26,400, $26,780, and $27,000.
