{"id":28536,"date":"2023-08-22T03:52:43","date_gmt":"2023-08-22T07:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=28536"},"modified":"2023-08-22T03:52:43","modified_gmt":"2023-08-22T07:52:43","slug":"bitcoin-price-signals-bearish-continuation-but-bears-losing-strength","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/22\/bitcoin-price-signals-bearish-continuation-but-bears-losing-strength\/","title":{"rendered":"Bitcoin Price Signals Bearish Continuation But Bears Losing Strength"},"content":{"rendered":"

Bitcoin price is struggling to recover above the $26,500 level. BTC could gain bearish momentum if there is a move below the $25,600 support.<\/em><\/p>\n

Bitcoin is struggling to recover above the $26,500 resistance zone.
\nThe price is trading below $26,400 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move down if there is a break below the $25,600 support.<\/p>\n

Bitcoin Price Aims Lower<\/h2>\n

Bitcoin price attempted a recovery wave above the $26,000 resistance zone<\/a>. BTC climbed above $26,200 but struggled to continue higher.<\/p>\n

It formed a top near the $26,500 zone and recently started a fresh decline. There was a move below the $26,200 level. Besides, there was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin tested the 50% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. It is now trading below $26,400 and the 100 hourly Simple moving average.<\/p>\n

Immediate resistance is near the $26,100 level and the 100 hourly Simple moving average<\/a>. The next major resistance is near $26,250. A clear move above the $26,250 resistance might send the price toward the $26,500 resistance zone.<\/p>\n\n

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

The main breakout zone is now forming near the $27,000 zone. A close above the $27,000 resistance could start a decent increase toward the $27,550 resistance zone. Any more gains might set the pace for a larger increase toward $28,150.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to clear the $26,250 resistance, it could continue to move down. Immediate support on the downside is near the $25,900 zone.<\/p>\n

The next major support is near the $25,600 level or the 61.8% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. A downside break below the $25,600 level might push the price further into a bearish zone. In the stated case, the price could drop toward $25,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $25,900, followed by $25,600.<\/p>\n

Major Resistance Levels \u2013 $26,250, $26,500, and $27,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling to recover above the $26,500 level. BTC could gain bearish momentum if there is a move below the $25,600 support.<\/em><\/p>\n

Bitcoin is struggling to recover above the $26,500 resistance zone.
\nThe price is trading below $26,400 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to move down if there is a break below the $25,600 support.<\/p>\n

Bitcoin Price Aims Lower<\/h2>\n

Bitcoin price attempted a recovery wave above the $26,000 resistance zone<\/a>. BTC climbed above $26,200 but struggled to continue higher.<\/p>\n

It formed a top near the $26,500 zone and recently started a fresh decline. There was a move below the $26,200 level. Besides, there was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin tested the 50% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. It is now trading below $26,400 and the 100 hourly Simple moving average.<\/p>\n

Immediate resistance is near the $26,100 level and the 100 hourly Simple moving average<\/a>. The next major resistance is near $26,250. A clear move above the $26,250 resistance might send the price toward the $26,500 resistance zone.<\/p>\n

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

The main breakout zone is now forming near the $27,000 zone. A close above the $27,000 resistance could start a decent increase toward the $27,550 resistance zone. Any more gains might set the pace for a larger increase toward $28,150.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to clear the $26,250 resistance, it could continue to move down. Immediate support on the downside is near the $25,900 zone.<\/p>\n

The next major support is near the $25,600 level or the 61.8% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. A downside break below the $25,600 level might push the price further into a bearish zone. In the stated case, the price could drop toward $25,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $25,900, followed by $25,600.<\/p>\n

Major Resistance Levels \u2013 $26,250, $26,500, and $27,000.<\/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-28536","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\/28536","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=28536"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28536\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28536"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}