{"id":24631,"date":"2023-05-26T03:52:39","date_gmt":"2023-05-26T07:52:39","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24631"},"modified":"2023-05-26T03:52:39","modified_gmt":"2023-05-26T07:52:39","slug":"bitcoin-price-struggles-to-recover-and-remains-vulnerable-to-fresh-decline","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/26\/bitcoin-price-struggles-to-recover-and-remains-vulnerable-to-fresh-decline\/","title":{"rendered":"Bitcoin Price Struggles To Recover and Remains Vulnerable To Fresh Decline"},"content":{"rendered":"

Bitcoin price is struggling to recover above the $26,650 resistance. BTC might start another decline if it stays below the $26,650 resistance zone.<\/em><\/p>\n

Bitcoin is consolidating below the $26,600 and $26,650 resistance levels.
\nThe price is trading below $26,650 and the 100 hourly Simple moving average.
\nThere is a major bearish trend line forming with resistance near $26,640 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could recover if there is a clear move above the $26,650 resistance.<\/p>\n

Bitcoin Price Faces Hurdle<\/h2>\n

Bitcoin price remained in a bearish zone below the $27,500 resistance zone<\/a>. BTC extended its decline and traded below the $26,000 level. A low was formed near $25,865 before the price started an upside correction.<\/p>\n

There was a move above the $26,200 level. The price is trading above the 23.6% Fib retracement level of the downward move from the $27,512 swing high to the $25,865 low. However, the price is facing many hurdles near $26,650.<\/p>\n

Bitcoin price is now consolidating below the $26,600 and $26,650 resistance levels. There is also a major bearish trend line forming with resistance near $26,640 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $26,550 level. The next major resistance is near the $26,650 level or the 50% Fib retracement level of the downward move from the $27,512 swing high to the $25,865 low. A close above the $26,650 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 $27,550, above which the price might rise toward the $28,000 resistance<\/a>. Any more gains might send the price toward the $28,200 resistance level.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $26,650 resistance, it could start another decline. Immediate support on the downside is near the $26,200 level.<\/p>\n

The next major support is near the $26,000 zone, below which the price might revisit the last swing low at $25,865. Any more losses might take Bitcoin toward the $25,000 level in the near term.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 40 level.<\/p>\n

Major Support Levels \u2013 $26,200, followed by $26,000.<\/p>\n

Major Resistance Levels \u2013 $26,550, $26,650, and $27,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling to recover above the $26,650 resistance. BTC might start another decline if it stays below the $26,650 resistance zone.<\/em><\/p>\n

Bitcoin is consolidating below the $26,600 and $26,650 resistance levels.
\nThe price is trading below $26,650 and the 100 hourly Simple moving average.
\nThere is a major bearish trend line forming with resistance near $26,640 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could recover if there is a clear move above the $26,650 resistance.<\/p>\n

Bitcoin Price Faces Hurdle<\/h2>\n

Bitcoin price remained in a bearish zone below the $27,500 resistance zone<\/a>. BTC extended its decline and traded below the $26,000 level. A low was formed near $25,865 before the price started an upside correction.<\/p>\n

There was a move above the $26,200 level. The price is trading above the 23.6% Fib retracement level of the downward move from the $27,512 swing high to the $25,865 low. However, the price is facing many hurdles near $26,650.<\/p>\n

Bitcoin price is now consolidating below the $26,600 and $26,650 resistance levels. There is also a major bearish trend line forming with resistance near $26,640 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $26,550 level. The next major resistance is near the $26,650 level or the 50% Fib retracement level of the downward move from the $27,512 swing high to the $25,865 low. A close above the $26,650 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 $27,550, above which the price might rise toward the $28,000 resistance<\/a>. Any more gains might send the price toward the $28,200 resistance level.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $26,650 resistance, it could start another decline. Immediate support on the downside is near the $26,200 level.<\/p>\n

The next major support is near the $26,000 zone, below which the price might revisit the last swing low at $25,865. Any more losses might take Bitcoin toward the $25,000 level in the near term.<\/p>\n

Technical indicators:<\/p>\n

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

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 40 level.<\/p>\n

Major Support Levels \u2013 $26,200, followed by $26,000.<\/p>\n

Major Resistance Levels \u2013 $26,550, $26,650, and $27,200.<\/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-24631","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\/24631","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=24631"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24631\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24631"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}