{"id":29412,"date":"2023-09-11T03:52:46","date_gmt":"2023-09-11T07:52:46","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29412"},"modified":"2023-09-11T03:52:46","modified_gmt":"2023-09-11T07:52:46","slug":"bitcoin-price-key-indicators-suggest-a-strengthening-case-for-bearish-break","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/11\/bitcoin-price-key-indicators-suggest-a-strengthening-case-for-bearish-break\/","title":{"rendered":"Bitcoin Price Key Indicators Suggest A Strengthening Case For Bearish Break"},"content":{"rendered":"

Bitcoin price is struggling to recover above $26,500. BTC is clearly struggling and there is a risk of a downside break in the near term.<\/em><\/p>\n

Bitcoin is facing a lot of hurdles above the $26,200 resistance zone.
\nThe price is trading well below $26,000 and the 100 hourly Simple moving average.
\nThere is a key 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 there is a close below $25,350.<\/p>\n

Bitcoin Price Remains At Risk<\/h2>\n

Bitcoin price remained in a bearish zone and all attempts to start a decent recovery failed<\/a>. BTC peaked near $26,500 and started a fresh decline.<\/p>\n

There was a close below the $26,000 pivot level. The price even spiked below $25,650. A base seems to be forming near the $25,600 level but upsides are still capped. The price is consolidating below the 23.6% Fib retracement level of the downward move from the $26,487 swing high to the $25,650 low.<\/p>\n

Bitcoin is also trading well below $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a key 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. The first major resistance is near the $26,050 level or the 50% Fib retracement level of the downward move from the $26,487 swing high to the $25,650 low.<\/p>\n\n

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

The next key resistance is near $26,200. A proper close above the $26,200 level might start a decent increase. The next major resistance is near $26,500, above which the bulls could gain strength. In the stated case, the price could test the $27,000 level.<\/p>\n

More Losses 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 $25,600 level.<\/p>\n

The next major support is near the $25,350 level. A downside break and close below the $25,350 level might increase selling pressure. In the stated case, the price could drop toward $24,500 or even $24,000.<\/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 $25,600, followed by $25,350.<\/p>\n

Major Resistance Levels \u2013 $25,800, $26,050, and $26.200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling to recover above $26,500. BTC is clearly struggling and there is a risk of a downside break in the near term.<\/em><\/p>\n

Bitcoin is facing a lot of hurdles above the $26,200 resistance zone.
\nThe price is trading well below $26,000 and the 100 hourly Simple moving average.
\nThere is a key 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 there is a close below $25,350.<\/p>\n

Bitcoin Price Remains At Risk<\/h2>\n

Bitcoin price remained in a bearish zone and all attempts to start a decent recovery failed<\/a>. BTC peaked near $26,500 and started a fresh decline.<\/p>\n

There was a close below the $26,000 pivot level. The price even spiked below $25,650. A base seems to be forming near the $25,600 level but upsides are still capped. The price is consolidating below the 23.6% Fib retracement level of the downward move from the $26,487 swing high to the $25,650 low.<\/p>\n

Bitcoin is also trading well below $26,000 and the 100 hourly Simple moving average<\/a>. Besides, there is a key 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. The first major resistance is near the $26,050 level or the 50% Fib retracement level of the downward move from the $26,487 swing high to the $25,650 low.<\/p>\n

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

The next key resistance is near $26,200. A proper close above the $26,200 level might start a decent increase. The next major resistance is near $26,500, above which the bulls could gain strength. In the stated case, the price could test the $27,000 level.<\/p>\n

More Losses 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 $25,600 level.<\/p>\n

The next major support is near the $25,350 level. A downside break and close below the $25,350 level might increase selling pressure. In the stated case, the price could drop toward $24,500 or even $24,000.<\/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 $25,600, followed by $25,350.<\/p>\n

Major Resistance Levels \u2013 $25,800, $26,050, 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-29412","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\/29412","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=29412"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29412\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29412"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}