{"id":25515,"date":"2023-06-16T03:54:54","date_gmt":"2023-06-16T07:54:54","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25515"},"modified":"2023-06-16T03:54:54","modified_gmt":"2023-06-16T07:54:54","slug":"bitcoin-price-aims-26200-but-100-sma-hold-the-key-in-short-term","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/16\/bitcoin-price-aims-26200-but-100-sma-hold-the-key-in-short-term\/","title":{"rendered":"Bitcoin Price Aims $26,200 But 100 SMA Hold The Key In Short-Term"},"content":{"rendered":"

Bitcoin price is attempting a recovery wave above the $25,200 resistance. BTC must clear the 100 hourly SMA to continue higher in the near term.<\/em><\/p>\n

Bitcoin is slowly recovering higher above the $25,200 support.
\nThe price is trading below $25,750 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $25,680 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears $25,750 and the 100 hourly Simple moving average.<\/p>\n

Bitcoin Price Attempts Recovery<\/h2>\n

Bitcoin price remained in a bearish zone below the $26,200 resistance zone<\/a>. BTC extended its decline below the $25,500 support and even spiked below $25,000.<\/p>\n

A low is formed near $24,751 and the price is now attempting a recovery wave. There was a clear move above the $25,000 and $25,200 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $26,062 swing high to the $24,751 low.<\/p>\n

Bitcoin price is now trading below $25,750 and the 100 hourly Simple moving average. Besides, there is a key bearish trend line forming with resistance near $25,680 on the hourly chart of the BTC\/USD pair.<\/p>\n

The pair is now facing resistance near the trend line and the 100 hourly Simple moving average<\/a>. It is close to the 61.8% Fib retracement level of the downward move from the $26,062 swing high to the $24,751 low. The next major resistance is near the $25,750 level.<\/p>\n\n

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

A clear move above the $25,750 resistance might start a fresh increase. The next major resistance is near the $26,200 level, above which the bulls might send BTC toward the $26,500 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $25,750 resistance, it could start another decline. Immediate support on the downside is near the $25,200 level.<\/p>\n

The next major support is near the $24,820 level, below which the price might start another major decline. In the stated case, the price could drop toward the $24,000 support 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $25,200, followed by $24,820.<\/p>\n

Major Resistance Levels \u2013 $25,680, $25,750, and $26,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is attempting a recovery wave above the $25,200 resistance. BTC must clear the 100 hourly SMA to continue higher in the near term.<\/em><\/p>\n

Bitcoin is slowly recovering higher above the $25,200 support.
\nThe price is trading below $25,750 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $25,680 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears $25,750 and the 100 hourly Simple moving average.<\/p>\n

Bitcoin Price Attempts Recovery<\/h2>\n

Bitcoin price remained in a bearish zone below the $26,200 resistance zone<\/a>. BTC extended its decline below the $25,500 support and even spiked below $25,000.<\/p>\n

A low is formed near $24,751 and the price is now attempting a recovery wave. There was a clear move above the $25,000 and $25,200 resistance levels. The price climbed above the 50% Fib retracement level of the downward move from the $26,062 swing high to the $24,751 low.<\/p>\n

Bitcoin price is now trading below $25,750 and the 100 hourly Simple moving average. Besides, there is a key bearish trend line forming with resistance near $25,680 on the hourly chart of the BTC\/USD pair.<\/p>\n

The pair is now facing resistance near the trend line and the 100 hourly Simple moving average<\/a>. It is close to the 61.8% Fib retracement level of the downward move from the $26,062 swing high to the $24,751 low. The next major resistance is near the $25,750 level.<\/p>\n

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

A clear move above the $25,750 resistance might start a fresh increase. The next major resistance is near the $26,200 level, above which the bulls might send BTC toward the $26,500 resistance zone.<\/p>\n

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

If Bitcoin\u2019s price fails to clear the $25,750 resistance, it could start another decline. Immediate support on the downside is near the $25,200 level.<\/p>\n

The next major support is near the $24,820 level, below which the price might start another major decline. In the stated case, the price could drop toward the $24,000 support 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $25,200, followed by $24,820.<\/p>\n

Major Resistance Levels \u2013 $25,680, $25,750, and $26,200.<\/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-25515","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\/25515","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=25515"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25515\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25515"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}