{"id":29913,"date":"2023-09-21T02:52:40","date_gmt":"2023-09-21T06:52:40","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29913"},"modified":"2023-09-21T02:52:40","modified_gmt":"2023-09-21T06:52:40","slug":"bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-27-5k","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/21\/bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-27-5k\/","title":{"rendered":"Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $27.5K"},"content":{"rendered":"

Bitcoin price is struggling to clear the $27,500 resistance. BTC is slowly moving lower and might revisit the $26,200 support zone in the coming sessions.<\/em><\/p>\n

Bitcoin is still struggling to clear the $27,500 resistance.
\nThe price is trading above $26,800 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $26,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a bearish wave below $26,800 if it continues to struggle below $27,500.<\/p>\n

Bitcoin Price Faces Rejection<\/h2>\n

Bitcoin price made a couple of attempts to gain strength for a move above the $27,500 resistance zone<\/a>. However, BTC failed to continue higher and slowly moved lower after the Fed interest rate decision.<\/p>\n

The Fed kept the rates steady at 5.5% and it did not impact Bitcoin much. The price is now moving lower below the $27,200 level. There was a break below the 50% Fib retracement level of the upward move from the $26,656 swing low to the $27,495 high.<\/p>\n

Bitcoin is now trading above $26,800 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $26,810 on the hourly chart of the BTC\/USD pair.<\/p>\n

If the price remains stable above the trend line, it could rise again. Immediate resistance on the upside is near the $27,280 level. The first major resistance is near the $27,500 zone, above which the price could gain bullish momentum<\/a>.<\/p>\n\n

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

The next key resistance could be near the $28,200 level. A close above the $28,200 resistance could push the price toward the $29,500 resistance. Any more gains might call for a move toward the $30,000 level in the coming days.<\/p>\n

Downside Break In BTC?<\/h2>\n

If Bitcoin fails to start a fresh increase above the $27,280 resistance, it could continue to move down. Immediate support on the downside is near the $26,855 level or the 76.4% Fib retracement level of the upward move from the $26,656 swing low to the $27,495 high.<\/p>\n

The next major support is near the $26,800 level and the trend line. A downside break and close below the $26,800 level might spark more bearish moves and the price could decline toward the next support at $26,200.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $26,800, followed by $26,200.<\/p>\n

Major Resistance Levels \u2013 $27,280, $27,500, and $28,200.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling to clear the $27,500 resistance. BTC is slowly moving lower and might revisit the $26,200 support zone in the coming sessions.<\/em><\/p>\n

Bitcoin is still struggling to clear the $27,500 resistance.
\nThe price is trading above $26,800 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support near $26,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a bearish wave below $26,800 if it continues to struggle below $27,500.<\/p>\n

Bitcoin Price Faces Rejection<\/h2>\n

Bitcoin price made a couple of attempts to gain strength for a move above the $27,500 resistance zone<\/a>. However, BTC failed to continue higher and slowly moved lower after the Fed interest rate decision.<\/p>\n

The Fed kept the rates steady at 5.5% and it did not impact Bitcoin much. The price is now moving lower below the $27,200 level. There was a break below the 50% Fib retracement level of the upward move from the $26,656 swing low to the $27,495 high.<\/p>\n

Bitcoin is now trading above $26,800 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $26,810 on the hourly chart of the BTC\/USD pair.<\/p>\n

If the price remains stable above the trend line, it could rise again. Immediate resistance on the upside is near the $27,280 level. The first major resistance is near the $27,500 zone, above which the price could gain bullish momentum<\/a>.<\/p>\n

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

The next key resistance could be near the $28,200 level. A close above the $28,200 resistance could push the price toward the $29,500 resistance. Any more gains might call for a move toward the $30,000 level in the coming days.<\/p>\n

Downside Break In BTC?<\/h2>\n

If Bitcoin fails to start a fresh increase above the $27,280 resistance, it could continue to move down. Immediate support on the downside is near the $26,855 level or the 76.4% Fib retracement level of the upward move from the $26,656 swing low to the $27,495 high.<\/p>\n

The next major support is near the $26,800 level and the trend line. A downside break and close below the $26,800 level might spark more bearish moves and the price could decline toward the next support at $26,200.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $26,800, followed by $26,200.<\/p>\n

Major Resistance Levels \u2013 $27,280, $27,500, and $28,200.<\/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-29913","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\/29913","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=29913"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29913\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29913"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29913"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29913"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}