{"id":22538,"date":"2023-04-25T02:52:46","date_gmt":"2023-04-25T06:52:46","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22538"},"modified":"2023-04-25T02:52:46","modified_gmt":"2023-04-25T06:52:46","slug":"bitcoin-price-topside-bias-vulnerable-unless-it-surges-past-28k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/04\/25\/bitcoin-price-topside-bias-vulnerable-unless-it-surges-past-28k\/","title":{"rendered":"Bitcoin Price Topside Bias Vulnerable Unless It Surges Past $28K"},"content":{"rendered":"

Bitcoin price is showing bearish signs below the $28,000 zone. BTC must clear $28,000 to avoid more losses in the coming sessions.<\/em><\/p>\n

Bitcoin struggled to gain pace above the $28,000 resistance zone.
\nThe price is trading below $27,800 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $27,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent recovery wave if there is a close above $28,000.<\/p>\n

Bitcoin Price Remains At a Risk<\/h2>\n

Bitcoin price found support near the $27,200 zone<\/a> and started an upside correction. BTC climbed above the $27,800 level but upsides were limited.<\/p>\n

It tested the $28,000 resistance zone. A high was formed near $28,000 and the price reacted to the downside. It broke the $27,200 support zone and tested $27,000. A low is formed near $26,969 and the price is again attempting an upside correction.<\/p>\n

Bitcoin climbed above the 50% Fib retracement level of the recent decline from the $28,000 high to the $26,969 low. However, it is still trading below $27,800 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Besides, there is a connecting bearish trend line forming with resistance near $27,650 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $27,650 level and the trend line. The trend line coincides with the 61.8% Fib retracement level of the recent decline from the $28,000 high to the $26,969 low.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next major resistance sits near the $28,000 zone. A close above the $28,000 resistance could start a decent increase. In the stated case, the price may perhaps rise toward the $28,400 resistance zone. Any more gains could open the doors for a test of $29,200.<\/p>\n

More Losses in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $27,650 resistance, it could continue to move down. Immediate support on the downside is near the $27,100 level.<\/p>\n

The next major support is near the $27,000 zone. A downside break and close below the $27,000 support might push the price toward the $26,500 support. Any more losses might take Bitcoin toward $26,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $27,100, followed by $27,000.<\/p>\n

Major Resistance Levels \u2013 $27,650, $28,000, and $28,400.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is showing bearish signs below the $28,000 zone. BTC must clear $28,000 to avoid more losses in the coming sessions.<\/em><\/p>\n

Bitcoin struggled to gain pace above the $28,000 resistance zone.
\nThe price is trading below $27,800 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $27,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a decent recovery wave if there is a close above $28,000.<\/p>\n

Bitcoin Price Remains At a Risk<\/h2>\n

Bitcoin price found support near the $27,200 zone<\/a> and started an upside correction. BTC climbed above the $27,800 level but upsides were limited.<\/p>\n

It tested the $28,000 resistance zone. A high was formed near $28,000 and the price reacted to the downside. It broke the $27,200 support zone and tested $27,000. A low is formed near $26,969 and the price is again attempting an upside correction.<\/p>\n

Bitcoin climbed above the 50% Fib retracement level of the recent decline from the $28,000 high to the $26,969 low. However, it is still trading below $27,800 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Besides, there is a connecting bearish trend line forming with resistance near $27,650 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $27,650 level and the trend line. The trend line coincides with the 61.8% Fib retracement level of the recent decline from the $28,000 high to the $26,969 low.<\/p>\n

<\/a><\/p>\n

Source: BTCUSD on TradingView.com<\/a><\/p>\n

The next major resistance sits near the $28,000 zone. A close above the $28,000 resistance could start a decent increase. In the stated case, the price may perhaps rise toward the $28,400 resistance zone. Any more gains could open the doors for a test of $29,200.<\/p>\n

More Losses in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $27,650 resistance, it could continue to move down. Immediate support on the downside is near the $27,100 level.<\/p>\n

The next major support is near the $27,000 zone. A downside break and close below the $27,000 support might push the price toward the $26,500 support. Any more losses might take Bitcoin toward $26,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $27,100, followed by $27,000.<\/p>\n

Major Resistance Levels \u2013 $27,650, $28,000, and $28,400.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-22538","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22538","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=22538"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22538\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22538"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22538"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22538"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}