{"id":29207,"date":"2023-09-06T03:53:05","date_gmt":"2023-09-06T07:53:05","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29207"},"modified":"2023-09-06T03:53:05","modified_gmt":"2023-09-06T07:53:05","slug":"bitcoin-bulls-hold-strong-at-25500-but-can-they-push-btc-higher","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/06\/bitcoin-bulls-hold-strong-at-25500-but-can-they-push-btc-higher\/","title":{"rendered":"Bitcoin Bulls Hold Strong At $25,500 But Can They Push BTC Higher?"},"content":{"rendered":"

Bitcoin price is consolidating above $25,650 and $25,500. BTC could start a decent increase if the bulls manage to push it above the $26,200 resistance.<\/em><\/p>\n

Bitcoin is trading in a range above the $25,650 support zone.
\nThe price is trading below $26,000 and the 100 hourly Simple moving average.
\nThere is a short-term bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could take a major hit if it continues to struggle below the $26,200 resistance zone.<\/p>\n

Bitcoin Price Starts Consolidation<\/h2>\n

Bitcoin price remained in a range and settled well below the $26,200 resistance zone<\/a>. It seems like BTC bulls are currently protecting a downside break below the $25,650 and $25,500 support levels.<\/p>\n

It is clearly consolidating above the $25,650 level. However, it is also below $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a short-term bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $25,800 level and the trend line. The first major resistance is near the $26,000 level or the 23.6% Fib retracement level of the main decline from the $28,150 swing high to the $25,330 low.<\/p>\n

The next major resistance is now near the $26,200 level. A proper close above the $26,200 level might start a decent recovery wave toward $26,750. It is close to the 50% Fib retracement level of the main decline from the $28,150 swing high to the $25,330 low.<\/p>\n\n

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

The next major resistance is near $27,000, above which the bulls might gain strength. In the stated case, the price could test the $28,000 level.<\/p>\n

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

If Bitcoin fails to clear the $26,200 resistance, it could continue to move down. Immediate support on the downside is near the $25,650 level.<\/p>\n

The next major support is near the $25,350 level. A downside break and close below the $25,350 level might send the price further lower. In the stated case, the price could drop toward $24,800 or even $24,500.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $25,650, followed by $25,350.<\/p>\n

Major Resistance Levels \u2013 $25,800, $26,000, and $26,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is consolidating above $25,650 and $25,500. BTC could start a decent increase if the bulls manage to push it above the $26,200 resistance.<\/em><\/p>\n

Bitcoin is trading in a range above the $25,650 support zone.
\nThe price is trading below $26,000 and the 100 hourly Simple moving average.
\nThere is a short-term bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could take a major hit if it continues to struggle below the $26,200 resistance zone.<\/p>\n

Bitcoin Price Starts Consolidation<\/h2>\n

Bitcoin price remained in a range and settled well below the $26,200 resistance zone<\/a>. It seems like BTC bulls are currently protecting a downside break below the $25,650 and $25,500 support levels.<\/p>\n

It is clearly consolidating above the $25,650 level. However, it is also below $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a short-term bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $25,800 level and the trend line. The first major resistance is near the $26,000 level or the 23.6% Fib retracement level of the main decline from the $28,150 swing high to the $25,330 low.<\/p>\n

The next major resistance is now near the $26,200 level. A proper close above the $26,200 level might start a decent recovery wave toward $26,750. It is close to the 50% Fib retracement level of the main decline from the $28,150 swing high to the $25,330 low.<\/p>\n

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

The next major resistance is near $27,000, above which the bulls might gain strength. In the stated case, the price could test the $28,000 level.<\/p>\n

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

If Bitcoin fails to clear the $26,200 resistance, it could continue to move down. Immediate support on the downside is near the $25,650 level.<\/p>\n

The next major support is near the $25,350 level. A downside break and close below the $25,350 level might send the price further lower. In the stated case, the price could drop toward $24,800 or even $24,500.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $25,650, followed by $25,350.<\/p>\n

Major Resistance Levels \u2013 $25,800, $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-29207","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\/29207","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=29207"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29207\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29207"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}