{"id":24574,"date":"2023-05-25T03:52:57","date_gmt":"2023-05-25T07:52:57","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24574"},"modified":"2023-05-25T03:52:57","modified_gmt":"2023-05-25T07:52:57","slug":"bitcoin-bears-aim-big-after-recent-breakdown-below-26500","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/25\/bitcoin-bears-aim-big-after-recent-breakdown-below-26500\/","title":{"rendered":"Bitcoin Bears Aim Big After Recent Breakdown Below $26,500"},"content":{"rendered":"

Bitcoin price is declining from the $27,500 resistance. BTC traded below $26,500 and now remains at risk of a drop toward the $25,500 support zone.<\/em><\/p>\n

Bitcoin is moving lower from the $27,400 and $27,500 resistance levels.
\nThe price is trading below $26,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $26,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could recover but upsides might be limited above the $26,500 resistance.<\/p>\n

Bitcoin Price Extends Decline<\/h2>\n

Bitcoin price started another decline from the $27,500 resistance zone<\/a>. BTC failed to stay in a positive zone above the $26,850 support zone and extended its decline.<\/p>\n

The bears were able to push the price below the key $26,550 support zone. The price even spiked below the $26,000 level. A low is formed near $25,865 and the price is now consolidating losses. Bitcoin price is trading below $26,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bearish trend line forming with resistance near $26,650 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $26,250 level or the 23.6% Fib retracement level of the recent decline from the $27,511 swing high to the $25,865 low.<\/p>\n

The next major resistance is near the $26,400 level. The main resistance is now near $26,550 and the trend line. It is close to the 50% Fib retracement level of the recent decline from the $27,511 swing high to the $25,865 low. A close above the $26,550 resistance zone might send the price toward the $27,200 resistance zone.<\/p>\n\n

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

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

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

If Bitcoin\u2019s price fails to clear the $26,550 resistance, it could continue to move down. Immediate support on the downside is near the $25,850 level.<\/p>\n

The next major support is near the $25,500 zone, below which the price might dive toward the $25,000 support. Any more losses might take Bitcoin toward the $24,000 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 40 level.<\/p>\n

Major Support Levels \u2013 $25,850, followed by $25,500.<\/p>\n

Major Resistance Levels \u2013 $26,250, $26,550, and $26,650.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is declining from the $27,500 resistance. BTC traded below $26,500 and now remains at risk of a drop toward the $25,500 support zone.<\/em><\/p>\n

Bitcoin is moving lower from the $27,400 and $27,500 resistance levels.
\nThe price is trading below $26,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $26,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could recover but upsides might be limited above the $26,500 resistance.<\/p>\n

Bitcoin Price Extends Decline<\/h2>\n

Bitcoin price started another decline from the $27,500 resistance zone<\/a>. BTC failed to stay in a positive zone above the $26,850 support zone and extended its decline.<\/p>\n

The bears were able to push the price below the key $26,550 support zone. The price even spiked below the $26,000 level. A low is formed near $25,865 and the price is now consolidating losses. Bitcoin price is trading below $26,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

There is also a key bearish trend line forming with resistance near $26,650 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $26,250 level or the 23.6% Fib retracement level of the recent decline from the $27,511 swing high to the $25,865 low.<\/p>\n

The next major resistance is near the $26,400 level. The main resistance is now near $26,550 and the trend line. It is close to the 50% Fib retracement level of the recent decline from the $27,511 swing high to the $25,865 low. A close above the $26,550 resistance zone might send the price toward the $27,200 resistance zone.<\/p>\n

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

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

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

If Bitcoin\u2019s price fails to clear the $26,550 resistance, it could continue to move down. Immediate support on the downside is near the $25,850 level.<\/p>\n

The next major support is near the $25,500 zone, below which the price might dive toward the $25,000 support. Any more losses might take Bitcoin toward the $24,000 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 40 level.<\/p>\n

Major Support Levels \u2013 $25,850, followed by $25,500.<\/p>\n

Major Resistance Levels \u2013 $26,250, $26,550, and $26,650.<\/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-24574","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\/24574","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=24574"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24574\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24574"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}