{"id":29664,"date":"2023-09-15T03:53:57","date_gmt":"2023-09-15T07:53:57","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=29664"},"modified":"2023-09-15T03:53:57","modified_gmt":"2023-09-15T07:53:57","slug":"bitcoin-bulls-keep-pushing-and-its-good-signs-of-a-fresh-rally","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/15\/bitcoin-bulls-keep-pushing-and-its-good-signs-of-a-fresh-rally\/","title":{"rendered":"Bitcoin Bulls Keep Pushing And Its Good Signs of A Fresh Rally"},"content":{"rendered":"

Bitcoin price is holding gains above the $26,200 zone. BTC seems to be forming a base for a fresh increase above $26,850 in the coming sessions.<\/em><\/p>\n

Bitcoin is eyeing a key upside break above the $26,850 level.
\nThe price is trading above $26,100 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $26,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair seems to be setting up for a fresh rally above the $26,850 resistance.<\/p>\n

Bitcoin Price Could Rally Above $27K<\/h2>\n

Bitcoin price started a decent increase above the $26,000 resistance zone<\/a>. BTC remained well-bid above the Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high.<\/p>\n

There was a close above the $26,500 resistance zone. However, the bears seem to be protecting an upside break above the $26,850 resistance. The recent high was formed near $26,833 before there was another downside correction.<\/p>\n

There was a move toward the 50% Fib retracement level of the recent increase from the $26,154 swing low to the $26,833 high. Bitcoin is now trading above $26,100 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $26,300 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $26,720 level. The first major resistance is near the $26,850 level. The next key resistance could be near the $27,200 level.<\/p>\n\n

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

A successful move above the $26,850 resistance and then a close above $27,200 could spark another bullish wave. The next major resistance is near $28,000, above which the bulls could gain strength. In the stated case, the price could test the $28,800 level.<\/p>\n

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

If Bitcoin fails to start a fresh increase above the $26,850 resistance, it could continue to move down. Immediate support on the downside is near the $26,300 level and the trend line.<\/p>\n

The trend line is near the 76.4% Fib retracement level of the recent increase from the $26,154 swing low to the $26,833 high. The next major support is near the $26,000 level. A downside break and close below the $26,000 level might send the price toward the key support at $25,550.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $26,300, followed by $26,000.<\/p>\n

Major Resistance Levels \u2013 $26,720, $26,850, and $27,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is holding gains above the $26,200 zone. BTC seems to be forming a base for a fresh increase above $26,850 in the coming sessions.<\/em><\/p>\n

Bitcoin is eyeing a key upside break above the $26,850 level.
\nThe price is trading above $26,100 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $26,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair seems to be setting up for a fresh rally above the $26,850 resistance.<\/p>\n

Bitcoin Price Could Rally Above $27K<\/h2>\n

Bitcoin price started a decent increase above the $26,000 resistance zone<\/a>. BTC remained well-bid above the Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high.<\/p>\n

There was a close above the $26,500 resistance zone. However, the bears seem to be protecting an upside break above the $26,850 resistance. The recent high was formed near $26,833 before there was another downside correction.<\/p>\n

There was a move toward the 50% Fib retracement level of the recent increase from the $26,154 swing low to the $26,833 high. Bitcoin is now trading above $26,100 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support near $26,300 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $26,720 level. The first major resistance is near the $26,850 level. The next key resistance could be near the $27,200 level.<\/p>\n

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

A successful move above the $26,850 resistance and then a close above $27,200 could spark another bullish wave. The next major resistance is near $28,000, above which the bulls could gain strength. In the stated case, the price could test the $28,800 level.<\/p>\n

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

If Bitcoin fails to start a fresh increase above the $26,850 resistance, it could continue to move down. Immediate support on the downside is near the $26,300 level and the trend line.<\/p>\n

The trend line is near the 76.4% Fib retracement level of the recent increase from the $26,154 swing low to the $26,833 high. The next major support is near the $26,000 level. A downside break and close below the $26,000 level might send the price toward the key support at $25,550.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $26,300, followed by $26,000.<\/p>\n

Major Resistance Levels \u2013 $26,720, $26,850, and $27,200.<\/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-29664","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\/29664","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=29664"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29664\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29664"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}