{"id":30111,"date":"2023-09-26T02:52:46","date_gmt":"2023-09-26T06:52:46","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=30111"},"modified":"2023-09-26T02:52:46","modified_gmt":"2023-09-26T06:52:46","slug":"bitcoin-price-turns-vulnerable-as-indicators-point-to-more-weakness","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/26\/bitcoin-price-turns-vulnerable-as-indicators-point-to-more-weakness\/","title":{"rendered":"Bitcoin Price Turns Vulnerable As Indicators Point To More Weakness"},"content":{"rendered":"

Bitcoin price is struggling below the $26,500 resistance. BTC could accelerate lower if there is a close below the $26,000 support in the near term.<\/em><\/p>\n

Bitcoin is struggling and trading well below the $27,500 resistance.
\nThe price is trading below $26,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $26,420 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could resume its decline unless there is a close above the $26,500 level.<\/p>\n

Bitcoin Price Faces Hurdles<\/h2>\n

Bitcoin price started a fresh decline below the $26,800 level<\/a>. BTC traded below the $26,500 and $26,200 support levels to move into a negative zone.<\/p>\n

Finally, the pair tested $26,000 and a low was formed near $26,026. Recently, the price started a minor recovery wave above the $26,200 level. The price climbed above the 23.6% Fib retracement level of the recent drop from the $26,712 swing high to the $26,026 low.<\/p>\n

However, the bears are protecting a break above the $26,500 resistance. The price is struggling to clear the 50% Fib retracement level of the recent drop from the $26,712 swing high to the $26,026 low.<\/p>\n

Bitcoin is now trading below $26,500 and the 100 hourly Simple moving average<\/a>. Immediate resistance on the upside is near the $26,400 level. There is also a key bearish trend line forming with resistance near $26,420 on the hourly chart of the BTC\/USD pair.<\/p>\n

<\/a><\/p>\n

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

The next key resistance could be near the $26,500 level, above which the price could gain bullish momentum. In the stated case, the price could climb toward the $27,000 resistance. Any more gains might call for a move toward the $27,500 level.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to start a fresh increase above the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,150 level.<\/p>\n

The next major support is near the $26,000 level. A downside break and close below the $26,000 level might start another major decline maybe toward the next support at $25,400. Any more losses might call for a test of $25,000.<\/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 $26,150, followed by $26,000.<\/p>\n

Major Resistance Levels \u2013 $26,400, $26,500, and $27,000.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is struggling below the $26,500 resistance. BTC could accelerate lower if there is a close below the $26,000 support in the near term.<\/em><\/p>\n

Bitcoin is struggling and trading well below the $27,500 resistance.
\nThe price is trading below $26,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $26,420 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could resume its decline unless there is a close above the $26,500 level.<\/p>\n

Bitcoin Price Faces Hurdles<\/h2>\n

Bitcoin price started a fresh decline below the $26,800 level<\/a>. BTC traded below the $26,500 and $26,200 support levels to move into a negative zone.<\/p>\n

Finally, the pair tested $26,000 and a low was formed near $26,026. Recently, the price started a minor recovery wave above the $26,200 level. The price climbed above the 23.6% Fib retracement level of the recent drop from the $26,712 swing high to the $26,026 low.<\/p>\n

However, the bears are protecting a break above the $26,500 resistance. The price is struggling to clear the 50% Fib retracement level of the recent drop from the $26,712 swing high to the $26,026 low.<\/p>\n

Bitcoin is now trading below $26,500 and the 100 hourly Simple moving average<\/a>. Immediate resistance on the upside is near the $26,400 level. There is also a key bearish trend line forming with resistance near $26,420 on the hourly chart of the BTC\/USD pair.<\/p>\n

<\/a><\/p>\n

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

The next key resistance could be near the $26,500 level, above which the price could gain bullish momentum. In the stated case, the price could climb toward the $27,000 resistance. Any more gains might call for a move toward the $27,500 level.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to start a fresh increase above the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,150 level.<\/p>\n

The next major support is near the $26,000 level. A downside break and close below the $26,000 level might start another major decline maybe toward the next support at $25,400. Any more losses might call for a test of $25,000.<\/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 $26,150, followed by $26,000.<\/p>\n

Major Resistance Levels \u2013 $26,400, $26,500, 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-30111","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\/30111","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=30111"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30111\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30111"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30111"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30111"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}