{"id":25590,"date":"2023-06-19T03:54:05","date_gmt":"2023-06-19T07:54:05","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25590"},"modified":"2023-06-19T03:54:05","modified_gmt":"2023-06-19T07:54:05","slug":"bitcoin-price-steadies-above-26k-can-bulls-pump-it-further","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/19\/bitcoin-price-steadies-above-26k-can-bulls-pump-it-further\/","title":{"rendered":"Bitcoin Price Steadies Above $26K, Can Bulls Pump It Further?"},"content":{"rendered":"

Bitcoin price is moving higher above the $26,000 resistance. BTC could continue to rise if there is a clear move above the $26,800 zone.<\/em><\/p>\n

Bitcoin started a recovery wave above the $26,000 resistance.
\nThe price is trading above $26,000 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears the $26,650 and $26,800 resistance levels.<\/p>\n

Bitcoin Price Regains $26,000<\/h2>\n

Bitcoin price remained well-bid above the $25,500 resistance zone<\/a>. As a result, BTC started a fresh recovery wave above the $26,000 resistance zone and even broke $26,200.<\/p>\n

The bulls pushed the price above the $26,500 level. A high is formed near $26,793 and the price is now consolidating gains. It is now trading near the 23.6% Fib retracement level of the upward move from the $24,751 swing low to the $26,793 high.<\/p>\n

Bitcoin price is now trading above $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC\/USD pair.<\/p>\n\n

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

If there is another increase, the price might face resistance near the $26,650 level. The next major resistance is near the $26,800 level. A clear move above the $26,800 resistance might push the price further higher. The next major resistance is near the $27,200 level, above which the bulls might send BTC toward the $27,500 resistance zone.<\/p>\n

Dips Limited in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $26,800 resistance, it could start a downside correction. Immediate support on the downside is near the $26,300 level.<\/p>\n

The next major support is near the $26,200 level and the trend line, below which the price might start test the 100 hourly Simple moving average. The key support is now near $25,750 or the 50% Fib retracement level of the upward move from the $24,751 swing low to the $26,793 high. Any more losses might send the price toward $25,200 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 below the 50 level.<\/p>\n

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

Major Resistance Levels \u2013 $26,650, $26,800, and $27,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is moving higher above the $26,000 resistance. BTC could continue to rise if there is a clear move above the $26,800 zone.<\/em><\/p>\n

Bitcoin started a recovery wave above the $26,000 resistance.
\nThe price is trading above $26,000 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could rise further if it clears the $26,650 and $26,800 resistance levels.<\/p>\n

Bitcoin Price Regains $26,000<\/h2>\n

Bitcoin price remained well-bid above the $25,500 resistance zone<\/a>. As a result, BTC started a fresh recovery wave above the $26,000 resistance zone and even broke $26,200.<\/p>\n

The bulls pushed the price above the $26,500 level. A high is formed near $26,793 and the price is now consolidating gains. It is now trading near the 23.6% Fib retracement level of the upward move from the $24,751 swing low to the $26,793 high.<\/p>\n

Bitcoin price is now trading above $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

If there is another increase, the price might face resistance near the $26,650 level. The next major resistance is near the $26,800 level. A clear move above the $26,800 resistance might push the price further higher. The next major resistance is near the $27,200 level, above which the bulls might send BTC toward the $27,500 resistance zone.<\/p>\n

Dips Limited in BTC?<\/h2>\n

If Bitcoin\u2019s price fails to clear the $26,800 resistance, it could start a downside correction. Immediate support on the downside is near the $26,300 level.<\/p>\n

The next major support is near the $26,200 level and the trend line, below which the price might start test the 100 hourly Simple moving average. The key support is now near $25,750 or the 50% Fib retracement level of the upward move from the $24,751 swing low to the $26,793 high. Any more losses might send the price toward $25,200 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 below the 50 level.<\/p>\n

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

Major Resistance Levels \u2013 $26,650, $26,800, 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-25590","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\/25590","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=25590"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25590\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25590"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}