{"id":16949,"date":"2023-01-27T03:27:49","date_gmt":"2023-01-27T03:27:49","guid":{"rendered":"https:\/\/freakcryptos.com\/index.php\/2023\/01\/27\/bitcoin-price-holds-key-support-but-the-bulls-seem-to-be-losing-steam\/"},"modified":"2023-01-27T03:27:49","modified_gmt":"2023-01-27T03:27:49","slug":"bitcoin-price-holds-key-support-but-the-bulls-seem-to-be-losing-steam","status":"publish","type":"post","link":"https:\/\/freakcryptos.com\/index.php\/2023\/01\/27\/bitcoin-price-holds-key-support-but-the-bulls-seem-to-be-losing-steam\/","title":{"rendered":"Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value didn&#8217;t settle above $23,500 and corrected decrease. BTC is buying and selling above $22,400, however it&#8217;s now buying and selling under the 100 hourly SMA.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly shifting decrease from the $23,500 resistance zone.<\/li>\n<li>The value is buying and selling under $23,000 and the 100 hourly easy shifting common.<\/li>\n<li>There is a key contracting triangle forming with resistance close to $23,000 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair might begin a recent improve if it clears the $23,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin value tried a <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-resumes-increase-25k\/\" target=\"_blank\" rel=\"noopener\">fresh increase<\/a> above the $23,500 resistance zone. However, BTC struggled to achieve bullish momentum above the $23,800 degree. A brand new yearly excessive was fashioned close to $23,829 and the value began a draw back correction.<\/p>\n<p>There was a drop under the $23,200 and $23,000 help ranges. The value even spiked under $22,500 and traded as little as $22,492. It is now consolidating losses above $22,500.<\/p>\n<p>Bitcoin value is now buying and selling under $23,000 and the <a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-correction-22k\/\" target=\"_blank\" rel=\"noopener\">100 hourly simple moving average<\/a>. There can also be a key contracting triangle forming with resistance close to $23,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>It is slowly shifting above the 23.6% Fib retracement degree of the latest decline from the $23,829 swing excessive to $22,492 low. An fast resistance is close to the $23,000 degree, the 100 hourly easy shifting common, and the triangle development line.<\/p>\n<p><a href=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-517687\" src=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23.png 1834w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23-460x212.png 460w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23-860x396.png 860w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23-768x354.png 768w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23-1536x708.png 1536w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23-750x346.png 750w, https:\/\/newsbtc.com\/wp-content\/uploads\/2023\/01\/Bitcoin-23-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The subsequent main resistance is close to the $23,150 zone or the 50% Fib retracement degree of the latest decline from the $23,829 swing excessive to $22,492 low, above which the value would possibly acquire bullish momentum. In the acknowledged case, the value might maybe rise in direction of the $23,800 degree. The subsequent resistance could possibly be close to the $24,200 degree. Any extra beneficial properties would possibly ship btc value in direction of the $25,000 degree.<\/p>\n<h2>Downside Break in BTC?<\/h2>\n<p>If bitcoin value fails to clear the $23,000 resistance, it might proceed to maneuver down. An fast help on the draw back is close to the $22,500 zone and the triangle decrease development line.<\/p>\n<p>The subsequent main help is close to the $22,400 zone. A draw back break under the $22,400 degree would possibly ship the value in direction of the $22,000 degree. Any extra losses would possibly ship the value to $21,250 within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now dropping tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now under the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $22,500, adopted by $22,400.<\/p>\n<p>Major Resistance Levels \u2013 $23,000, $23,150 and $23,500.<\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/newsbtc.com\/analysis\/btc\/bitcoin-price-holds-support-22-4k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin value didn&#8217;t settle above $23,500 and corrected decrease. BTC is buying and selling above $22,400, however it&#8217;s now buying and selling under the 100 hourly SMA. Bitcoin is slowly shifting decrease from the $23,500 resistance zone. The value is buying and selling under $23,000 and the 100 hourly easy shifting common. There is a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":15521,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[20,963,988,336,3059,110,2468,162],"class_list":{"0":"post-16949","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market","8":"tag-bitcoin","9":"tag-bulls","10":"tag-holds","11":"tag-key","12":"tag-losing","13":"tag-price","14":"tag-steam","15":"tag-support"},"_links":{"self":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/16949","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/comments?post=16949"}],"version-history":[{"count":1,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/16949\/revisions"}],"predecessor-version":[{"id":16950,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/posts\/16949\/revisions\/16950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/media\/15521"}],"wp:attachment":[{"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/media?parent=16949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/categories?post=16949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/freakcryptos.com\/index.php\/wp-json\/wp\/v2\/tags?post=16949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}