{"id":28848,"date":"2023-08-29T03:53:10","date_gmt":"2023-08-29T07:53:10","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28848"},"modified":"2023-08-29T03:53:10","modified_gmt":"2023-08-29T07:53:10","slug":"bitcoin-price-still-vulnerable-unless-it-surges-past-26500","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/29\/bitcoin-price-still-vulnerable-unless-it-surges-past-26500\/","title":{"rendered":"Bitcoin Price Still Vulnerable Unless It Surges Past $26,500"},"content":{"rendered":"

Bitcoin price is attempting an upside break above the $26,200 resistance. BTC must clear $26,200 and $26,500 to start a decent recovery wave.<\/em><\/p>\n

Bitcoin is still struggling to clear the $26,500 resistance zone.
\nThe price is trading above $26,000 and the 100 hourly Simple moving average.
\nThere was a break above a short-term bearish trend line with resistance near $26,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could attempt a fresh increase if it clears $26,200 and $26,500.<\/p>\n

Bitcoin Price Faces Hurdles<\/h2>\n

Bitcoin price started a short-term upward move from the $25,720 zone. BTC was able to climb above the $26,000 resistance zone<\/a> but it is still facing a lot of hurdles.<\/p>\n

During the recent increase, it broke the 23.6% Fib retracement level of the downward move from the $26,779 swing high to the $25,778 low. Besides, there was a break above a short-term bearish trend line with resistance near $26,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading above $26,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $26,175 and $26,200 levels.<\/p>\n

A clear move above the $26,200 level might send the price toward the key resistance at $26,500<\/a>. Intermediate resistance is near the 61.8% Fib retracement level of the downward move from the $26,779 swing high to the $25,778 low at $26,400.<\/p>\n\n

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

To start a decent increase, the price must settle above $26,500. In the stated case, the price could test the $27,000 level. Any more gains might set the pace for a larger increase toward $28,200.<\/p>\n

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

If Bitcoin fails to clear the $26,200 resistance, it could start another decline. Immediate support on the downside is near the $25,900 level.<\/p>\n

The next major support is near the $25,800 level. A downside break below the $25,800 level might push the price further lower. In the stated case, the price could drop toward $25,400.<\/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 50 level.<\/p>\n

Major Support Levels \u2013 $25,800, followed by $25,400.<\/p>\n

Major Resistance Levels \u2013 $26,200, $26,500, and $27,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is attempting an upside break above the $26,200 resistance. BTC must clear $26,200 and $26,500 to start a decent recovery wave.<\/em><\/p>\n

Bitcoin is still struggling to clear the $26,500 resistance zone.
\nThe price is trading above $26,000 and the 100 hourly Simple moving average.
\nThere was a break above a short-term bearish trend line with resistance near $26,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could attempt a fresh increase if it clears $26,200 and $26,500.<\/p>\n

Bitcoin Price Faces Hurdles<\/h2>\n

Bitcoin price started a short-term upward move from the $25,720 zone. BTC was able to climb above the $26,000 resistance zone<\/a> but it is still facing a lot of hurdles.<\/p>\n

During the recent increase, it broke the 23.6% Fib retracement level of the downward move from the $26,779 swing high to the $25,778 low. Besides, there was a break above a short-term bearish trend line with resistance near $26,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading above $26,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $26,175 and $26,200 levels.<\/p>\n

A clear move above the $26,200 level might send the price toward the key resistance at $26,500<\/a>. Intermediate resistance is near the 61.8% Fib retracement level of the downward move from the $26,779 swing high to the $25,778 low at $26,400.<\/p>\n

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

To start a decent increase, the price must settle above $26,500. In the stated case, the price could test the $27,000 level. Any more gains might set the pace for a larger increase toward $28,200.<\/p>\n

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

If Bitcoin fails to clear the $26,200 resistance, it could start another decline. Immediate support on the downside is near the $25,900 level.<\/p>\n

The next major support is near the $25,800 level. A downside break below the $25,800 level might push the price further lower. In the stated case, the price could drop toward $25,400.<\/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 50 level.<\/p>\n

Major Support Levels \u2013 $25,800, followed by $25,400.<\/p>\n

Major Resistance Levels \u2013 $26,200, $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-28848","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\/28848","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=28848"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28848\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28848"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}