{"id":28711,"date":"2023-08-25T03:52:46","date_gmt":"2023-08-25T07:52:46","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=28711"},"modified":"2023-08-25T03:52:46","modified_gmt":"2023-08-25T07:52:46","slug":"bitcoin-price-could-range-trade-before-the-next-big-move","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/25\/bitcoin-price-could-range-trade-before-the-next-big-move\/","title":{"rendered":"Bitcoin Price Could Range Trade Before The Next Big Move"},"content":{"rendered":"

Bitcoin price is consolidating above the $25,500 level. BTC could start a decent increase if there is a close above the $27,000 resistance.<\/em><\/p>\n

Bitcoin is struggling to clear the $26,500 resistance zone.
\nThe price is trading near $26,100 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support near $26,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to trade in a range before the next major move.<\/p>\n

Bitcoin Price Slides Again<\/h2>\n

Bitcoin price started a recovery wave above the $26,250 resistance level<\/a>. BTC even cleared the $26,500 level but the bears were active near the $26,750 zone.<\/p>\n

A high was formed near $26,779 and the price started a fresh decline. There was a move below the $26,500 level. The price declined below the 50% Fib retracement level of the recovery move from the $25,360 swing low to the $26,779 high.<\/p>\n

Besides, there was a break below a connecting bullish trend line with support near $26,400 on the hourly chart of the BTC\/USD pair. The pair tested the 61.8% Fib retracement level of the recovery move from the $25,360 swing low to the $26,779 high.<\/p>\n

Bitcoin is trading near $26,100 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $26,400 level. The first major resistance is now near the $26,780 level, above which the price might rise toward the $27,000 resistance.<\/p>\n\n

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

To start a strong increase, the price must settle above the $27,000 resistance. In the stated case, the price could test the $27,800 level. Any more gains might set the pace for a larger increase toward $28,200.<\/p>\n

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

If Bitcoin fails to clear the $26,400 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 $25,400 level. A downside break below the $25,400 level might push the price again into a bearish zone. In the stated case, the price could drop toward $24,800.<\/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 50 level.<\/p>\n

Major Support Levels \u2013 $25,900, followed by $25,400.<\/p>\n

Major Resistance Levels \u2013 $26,400, $26,780, and $27,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is consolidating above the $25,500 level. BTC could start a decent increase if there is a close above the $27,000 resistance.<\/em><\/p>\n

Bitcoin is struggling to clear the $26,500 resistance zone.
\nThe price is trading near $26,100 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support near $26,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to trade in a range before the next major move.<\/p>\n

Bitcoin Price Slides Again<\/h2>\n

Bitcoin price started a recovery wave above the $26,250 resistance level<\/a>. BTC even cleared the $26,500 level but the bears were active near the $26,750 zone.<\/p>\n

A high was formed near $26,779 and the price started a fresh decline. There was a move below the $26,500 level. The price declined below the 50% Fib retracement level of the recovery move from the $25,360 swing low to the $26,779 high.<\/p>\n

Besides, there was a break below a connecting bullish trend line with support near $26,400 on the hourly chart of the BTC\/USD pair. The pair tested the 61.8% Fib retracement level of the recovery move from the $25,360 swing low to the $26,779 high.<\/p>\n

Bitcoin is trading near $26,100 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $26,400 level. The first major resistance is now near the $26,780 level, above which the price might rise toward the $27,000 resistance.<\/p>\n

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

To start a strong increase, the price must settle above the $27,000 resistance. In the stated case, the price could test the $27,800 level. Any more gains might set the pace for a larger increase toward $28,200.<\/p>\n

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

If Bitcoin fails to clear the $26,400 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 $25,400 level. A downside break below the $25,400 level might push the price again into a bearish zone. In the stated case, the price could drop toward $24,800.<\/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 50 level.<\/p>\n

Major Support Levels \u2013 $25,900, followed by $25,400.<\/p>\n

Major Resistance Levels \u2013 $26,400, $26,780, 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-28711","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\/28711","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=28711"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28711\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28711"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}