{"id":29742,"date":"2023-09-18T03:54:35","date_gmt":"2023-09-18T07:54:35","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=29742"},"modified":"2023-09-18T03:54:35","modified_gmt":"2023-09-18T07:54:35","slug":"bitcoin-price-holds-strong-at-100-sma-a-strengthening-case-for-upside","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/18\/bitcoin-price-holds-strong-at-100-sma-a-strengthening-case-for-upside\/","title":{"rendered":"Bitcoin Price Holds Strong At 100 SMA \u2013 A Strengthening Case For Upside"},"content":{"rendered":"

Bitcoin price is holding the $26,400 support zone. BTC could gain bullish momentum if there is a close above the $27,000 resistance zone.<\/em><\/p>\n

Bitcoin is holding gains above the $26,200 support level.
\nThe price is trading above $26,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a steady increase if it settles above $26,850 and then $27,000.<\/p>\n

Bitcoin Price Holds Ground<\/h2>\n

Bitcoin price started a decent increase<\/a> above the $26,200 resistance zone. BTC even climbed above the $26,800 level but failed to stay in the positive zone.<\/p>\n

There was a minor downside correction below $26,550. The price traded as low as $26,412 and is currently attempting a fresh increase. There was a move above the 50% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low.<\/p>\n

Bitcoin price is now trading above $26,500 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $26,700 level or the 61.8% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low. The first major resistance is near the $26,850 level. The next key resistance could be near the $27,000 level.<\/p>\n\n

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

A successful close above the $26,850 resistance and $27,200 could spark another bullish wave. The next major resistance is near $27,500, above which the bulls could gain strength. In the stated case, the price could test the $28,500 level.<\/p>\n

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

If Bitcoin fails to start a fresh increase above the $26,850 resistance, it could react to the downside. Immediate support on the downside is near the $26,500 level and the trend line.<\/p>\n

The next major support is near the $26,200 level. A downside break and close below the $26,200 level might send the price toward the next support at $25,650.<\/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 $26,500, followed by $26,200.<\/p>\n

Major Resistance Levels \u2013 $26,700, $26,850, and $27,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is holding the $26,400 support zone. BTC could gain bullish momentum if there is a close above the $27,000 resistance zone.<\/em><\/p>\n

Bitcoin is holding gains above the $26,200 support level.
\nThe price is trading above $26,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a steady increase if it settles above $26,850 and then $27,000.<\/p>\n

Bitcoin Price Holds Ground<\/h2>\n

Bitcoin price started a decent increase<\/a> above the $26,200 resistance zone. BTC even climbed above the $26,800 level but failed to stay in the positive zone.<\/p>\n

There was a minor downside correction below $26,550. The price traded as low as $26,412 and is currently attempting a fresh increase. There was a move above the 50% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low.<\/p>\n

Bitcoin price is now trading above $26,500 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

Immediate resistance on the upside is near the $26,700 level or the 61.8% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low. The first major resistance is near the $26,850 level. The next key resistance could be near the $27,000 level.<\/p>\n

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

A successful close above the $26,850 resistance and $27,200 could spark another bullish wave. The next major resistance is near $27,500, above which the bulls could gain strength. In the stated case, the price could test the $28,500 level.<\/p>\n

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

If Bitcoin fails to start a fresh increase above the $26,850 resistance, it could react to the downside. Immediate support on the downside is near the $26,500 level and the trend line.<\/p>\n

The next major support is near the $26,200 level. A downside break and close below the $26,200 level might send the price toward the next support at $25,650.<\/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 $26,500, followed by $26,200.<\/p>\n

Major Resistance Levels \u2013 $26,700, $26,850, 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-29742","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\/29742","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=29742"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29742\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29742"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}