{"id":24040,"date":"2023-05-15T02:52:40","date_gmt":"2023-05-15T06:52:40","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24040"},"modified":"2023-05-15T02:52:40","modified_gmt":"2023-05-15T06:52:40","slug":"bitcoin-price-restarts-increase-but-this-resistance-is-the-key","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/15\/bitcoin-price-restarts-increase-but-this-resistance-is-the-key\/","title":{"rendered":"Bitcoin Price Restarts Increase But This Resistance Is The Key"},"content":{"rendered":"

Bitcoin price is recovering higher above the $27,000 resistance. BTC must clear the $27,800 resistance to start a decent increase in the near term.<\/em><\/p>\n

Bitcoin tested the $26,000 support zone and is currently recovering higher.
\nThe price is trading above $26,500 and the 100 hourly Simple moving average.
\nThere was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move higher if it clears the $27,500 and $27,800 resistance levels.<\/p>\n

Bitcoin Price Starts Recovery<\/h2>\n

Bitcoin price extended its decline below the $27,000 support zone<\/a>. BTC even moved below the $26,200 level before the bulls appeared.<\/p>\n

A low was formed near $25,851 and the price is now correcting losses. There was a decent increase above the $26,500 resistance level. There was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above the 50% Fib retracement level downward move from the $28,334 swing high to the $25,851 low. It is also trading above $26,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Immediate resistance is now forming near the $27,400 level. It is close to the 61.8% Fib retracement level downward move from the $28,334 swing high to the $25,851 low. The next major resistance is near the $27,800 level.<\/p>\n

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

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

A close above the $27,800 resistance might start a decent increase. The next key resistance is near $28,000, above which the price might climb toward the $28,500 resistance.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $27,400 resistance, it could start another decline. Immediate support on the downside is near the $27,000 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $26,500 zone, below which the price might start a decent decline. In the stated case, it could revisit the $26,000 level. Any more losses might take Bitcoin toward the $25,500 level in the near term. The next major support could be $25,000.<\/p>\n

Technical indicators:<\/p>\n

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

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

Major Support Levels \u2013 $27,000, followed by $26,500.<\/p>\n

Major Resistance Levels \u2013 $27,400, $27,800, and $28,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is recovering higher above the $27,000 resistance. BTC must clear the $27,800 resistance to start a decent increase in the near term.<\/em><\/p>\n

Bitcoin tested the $26,000 support zone and is currently recovering higher.
\nThe price is trading above $26,500 and the 100 hourly Simple moving average.
\nThere was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move higher if it clears the $27,500 and $27,800 resistance levels.<\/p>\n

Bitcoin Price Starts Recovery<\/h2>\n

Bitcoin price extended its decline below the $27,000 support zone<\/a>. BTC even moved below the $26,200 level before the bulls appeared.<\/p>\n

A low was formed near $25,851 and the price is now correcting losses. There was a decent increase above the $26,500 resistance level. There was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above the 50% Fib retracement level downward move from the $28,334 swing high to the $25,851 low. It is also trading above $26,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Immediate resistance is now forming near the $27,400 level. It is close to the 61.8% Fib retracement level downward move from the $28,334 swing high to the $25,851 low. The next major resistance is near the $27,800 level.<\/p>\n

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

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

A close above the $27,800 resistance might start a decent increase. The next key resistance is near $28,000, above which the price might climb toward the $28,500 resistance.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $27,400 resistance, it could start another decline. Immediate support on the downside is near the $27,000 level and the 100 hourly Simple moving average.<\/p>\n

The next major support is near the $26,500 zone, below which the price might start a decent decline. In the stated case, it could revisit the $26,000 level. Any more losses might take Bitcoin toward the $25,500 level in the near term. The next major support could be $25,000.<\/p>\n

Technical indicators:<\/p>\n

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

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

Major Support Levels \u2013 $27,000, followed by $26,500.<\/p>\n

Major Resistance Levels \u2013 $27,400, $27,800, and $28,000.<\/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-24040","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\/24040","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=24040"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24040\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24040"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}