{"id":24324,"date":"2023-05-19T02:52:46","date_gmt":"2023-05-19T06:52:46","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24324"},"modified":"2023-05-19T02:52:46","modified_gmt":"2023-05-19T06:52:46","slug":"bitcoin-price-topside-bias-vulnerable-unless-it-surges-past-27500","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/19\/bitcoin-price-topside-bias-vulnerable-unless-it-surges-past-27500\/","title":{"rendered":"Bitcoin Price Topside Bias Vulnerable Unless It Surges Past $27,500"},"content":{"rendered":"

Bitcoin price is struggling below $27,500. BTC is now at risk of a downside break unless there is a close above the $27,500 resistance.<\/em><\/p>\n

Bitcoin started another decline and traded below the $26,800 level.
\nThe price is trading below $27,200 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $27,320 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh rally if it clears the $27,320 and $27,500 resistance levels.<\/p>\n

Bitcoin Price Faces Resistance<\/h2>\n

Bitcoin price started a fresh decline<\/a> below the $27,200 level. BTC even traded below the $26,550 support zone to set a new weekly low.<\/p>\n

A low is formed near $26,345 and the price is now attempting a fresh increase. There was a move above the 23.6% Fib retracement level of the recent decline from the $27,492 swing high to the $26,345 low. It is now trading below $27,200 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bearish trend line forming with resistance near $27,320 on the hourly chart of the BTC\/USD pair. Bitcoin price is now struggling to clear the $27,000 resistance.<\/p>\n

It is facing barriers near the 50% Fib retracement level of the recent decline from the $27,492 swing high to the $26,345 low. The next major resistance is near the $27,320 level and the trend line. A close above the $27,320 resistance might reduce selling pressure.<\/p>\n

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

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

The next key resistance is near $27,550, above which the price might gain bullish momentum and test the $28,000 resistance. Any more gains might send the price toward the $28,500 level.<\/p>\n

Fresh Decline in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $27,320 resistance, it could start a fresh decline. Immediate support on the downside is near the $26,550 level.<\/p>\n

The next major support is near the $26,350 zone, below which the price might gain bearish momentum. In the stated case, it could test the $26,000 level. Any more losses might take Bitcoin toward the $25,500 level in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing 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 $26,550, followed by $26,350.<\/p>\n

Major Resistance Levels \u2013 $27,000, $27,320, and $27,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling below $27,500. BTC is now at risk of a downside break unless there is a close above the $27,500 resistance.<\/em><\/p>\n

Bitcoin started another decline and traded below the $26,800 level.
\nThe price is trading below $27,200 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $27,320 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh rally if it clears the $27,320 and $27,500 resistance levels.<\/p>\n

Bitcoin Price Faces Resistance<\/h2>\n

Bitcoin price started a fresh decline<\/a> below the $27,200 level. BTC even traded below the $26,550 support zone to set a new weekly low.<\/p>\n

A low is formed near $26,345 and the price is now attempting a fresh increase. There was a move above the 23.6% Fib retracement level of the recent decline from the $27,492 swing high to the $26,345 low. It is now trading below $27,200 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bearish trend line forming with resistance near $27,320 on the hourly chart of the BTC\/USD pair. Bitcoin price is now struggling to clear the $27,000 resistance.<\/p>\n

It is facing barriers near the 50% Fib retracement level of the recent decline from the $27,492 swing high to the $26,345 low. The next major resistance is near the $27,320 level and the trend line. A close above the $27,320 resistance might reduce selling pressure.<\/p>\n

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

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

The next key resistance is near $27,550, above which the price might gain bullish momentum and test the $28,000 resistance. Any more gains might send the price toward the $28,500 level.<\/p>\n

Fresh Decline in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $27,320 resistance, it could start a fresh decline. Immediate support on the downside is near the $26,550 level.<\/p>\n

The next major support is near the $26,350 zone, below which the price might gain bearish momentum. In the stated case, it could test the $26,000 level. Any more losses might take Bitcoin toward the $25,500 level in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing 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 $26,550, followed by $26,350.<\/p>\n

Major Resistance Levels \u2013 $27,000, $27,320, and $27,500.<\/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-24324","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\/24324","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=24324"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24324\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24324"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}