{"id":29149,"date":"2023-09-05T03:53:55","date_gmt":"2023-09-05T07:53:55","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=29149"},"modified":"2023-09-05T03:53:55","modified_gmt":"2023-09-05T07:53:55","slug":"bitcoin-price-could-see-downside-thrust-before-the-bulls-take-a-stand","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/05\/bitcoin-price-could-see-downside-thrust-before-the-bulls-take-a-stand\/","title":{"rendered":"Bitcoin Price Could See Downside Thrust Before The Bulls Take A Stand"},"content":{"rendered":"

Bitcoin price is struggling to recover above $26,200. BTC is again moving lower and there could be a sharp decline below $25,500 in the near term.<\/em><\/p>\n

Bitcoin failed to recover above the $26,200 and $26,500 levels.
\nThe price is trading below $26,000 and the 100 hourly Simple moving average.
\nThere is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could accelerate lower below the $25,500 and $25,400 levels in the near term.<\/p>\n

Bitcoin Price Resumes Slide<\/h2>\n

Bitcoin price attempted a recovery wave from the $25,350 zone<\/a>. However, BTC struggled to recover above the $26,200 pivot level and remained in a bearish zone.<\/p>\n

The price is again moving lower and trading below the $26,000 level. There are a lot of bearish signs emerging below $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $25,650 level and the trend line. The first major resistance is near the $26,000 level or the 23.6% Fib retracement level of the downward move from the $28,150 swing high to the $25,332 low.<\/p>\n\n

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

The next major resistance is now near the $26,200 level. A clear move above the $26,200 level might start a decent recovery wave toward $26,500. The next major resistance is near $27,000, above which there could be a decent increase. In the stated case, the price could test the $27,800 level.<\/p>\n

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

If Bitcoin fails to clear the $26,000 resistance, it could continue to move down. Immediate support on the downside is near the $25,350 level.<\/p>\n

The next major support is near the $25,000 level. A downside break below the $25,000 level might send the price further lower. In the stated case, the price could drop toward $24,500.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $25,350, followed by $25,000.<\/p>\n

Major Resistance Levels \u2013 $25,650, $26,000, and $26,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling to recover above $26,200. BTC is again moving lower and there could be a sharp decline below $25,500 in the near term.<\/em><\/p>\n

Bitcoin failed to recover above the $26,200 and $26,500 levels.
\nThe price is trading below $26,000 and the 100 hourly Simple moving average.
\nThere is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could accelerate lower below the $25,500 and $25,400 levels in the near term.<\/p>\n

Bitcoin Price Resumes Slide<\/h2>\n

Bitcoin price attempted a recovery wave from the $25,350 zone<\/a>. However, BTC struggled to recover above the $26,200 pivot level and remained in a bearish zone.<\/p>\n

The price is again moving lower and trading below the $26,000 level. There are a lot of bearish signs emerging below $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $25,650 level and the trend line. The first major resistance is near the $26,000 level or the 23.6% Fib retracement level of the downward move from the $28,150 swing high to the $25,332 low.<\/p>\n

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

The next major resistance is now near the $26,200 level. A clear move above the $26,200 level might start a decent recovery wave toward $26,500. The next major resistance is near $27,000, above which there could be a decent increase. In the stated case, the price could test the $27,800 level.<\/p>\n

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

If Bitcoin fails to clear the $26,000 resistance, it could continue to move down. Immediate support on the downside is near the $25,350 level.<\/p>\n

The next major support is near the $25,000 level. A downside break below the $25,000 level might send the price further lower. In the stated case, the price could drop toward $24,500.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $25,350, followed by $25,000.<\/p>\n

Major Resistance Levels \u2013 $25,650, $26,000, 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-29149","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\/29149","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=29149"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29149\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29149"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}