{"id":30802,"date":"2023-10-11T03:54:30","date_gmt":"2023-10-11T07:54:30","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=30802"},"modified":"2023-10-11T03:54:30","modified_gmt":"2023-10-11T07:54:30","slug":"bitcoin-price-slides-as-bombs-rain-on-gaza-and-deaths-toll-rise","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/11\/bitcoin-price-slides-as-bombs-rain-on-gaza-and-deaths-toll-rise\/","title":{"rendered":"Bitcoin Price Slides As Bombs Rain on Gaza And Deaths Toll Rise"},"content":{"rendered":"

Bitcoin price is moving lower below the $27,200 support. BTC could decline further if the Israel-Hamas war escalates in the near term.<\/em><\/p>\n

Bitcoin is moving lower and showing bearish signs below $27,500.
\nThe price is trading below $27,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $27,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could accelerate lower below the $27,000 support in the near term.<\/p>\n

Bitcoin Price Starts Descend<\/h2>\n

Bitcoin price failed to gain pace above the $27,800 resistance<\/a>. BTC reacted to the downside amid rising Israel-Hamas tensions. There were more than 1200 deaths reported already by Israel.<\/p>\n

The price is moving lower below the $27,500 pivot level. There was also a downside break below the 76.4% Fib retracement level of the upward move from the $27,185 swing low to the $28,284 high. More importantly, the price traded below the key $27,200 support zone.<\/p>\n

Bitcoin is now trading below $27,500 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $27,550 on the hourly chart of the BTC\/USD pair.<\/p>\n

If there is an upside correction, the price might face resistance<\/a> near the $27,400 level. The next key resistance could be near the $27,500 level and the trend line. The first major resistance is $27,800, above which Bitcoin might test $28,250.<\/p>\n

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

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

The main downtrend resistance could be $28,500. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $30,000 resistance.<\/p>\n

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

If Bitcoin fails to recover higher above the $27,500 resistance, there could be more losses. Immediate support on the downside is near the $27,000 level or the 1.236 Fib extension level of the upward move from the $27,185 swing low to the $28,284 high.<\/p>\n

The next major support is near the $26,500 level. A downside break and close below the $26,500 support might send the price further lower. The next support sits at $26,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $27,000, followed by $26,500.<\/p>\n

Major Resistance Levels \u2013 $27,400, $27,500, and $28,500.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Bitcoin price is moving lower below the $27,200 support. BTC could decline further if the Israel-Hamas war escalates in the near term.<\/em><\/p>\n

Bitcoin is moving lower and showing bearish signs below $27,500.
\nThe price is trading below $27,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance near $27,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could accelerate lower below the $27,000 support in the near term.<\/p>\n

Bitcoin Price Starts Descend<\/h2>\n

Bitcoin price failed to gain pace above the $27,800 resistance<\/a>. BTC reacted to the downside amid rising Israel-Hamas tensions. There were more than 1200 deaths reported already by Israel.<\/p>\n

The price is moving lower below the $27,500 pivot level. There was also a downside break below the 76.4% Fib retracement level of the upward move from the $27,185 swing low to the $28,284 high. More importantly, the price traded below the key $27,200 support zone.<\/p>\n

Bitcoin is now trading below $27,500 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $27,550 on the hourly chart of the BTC\/USD pair.<\/p>\n

If there is an upside correction, the price might face resistance<\/a> near the $27,400 level. The next key resistance could be near the $27,500 level and the trend line. The first major resistance is $27,800, above which Bitcoin might test $28,250.<\/p>\n

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

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

The main downtrend resistance could be $28,500. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $30,000 resistance.<\/p>\n

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

If Bitcoin fails to recover higher above the $27,500 resistance, there could be more losses. Immediate support on the downside is near the $27,000 level or the 1.236 Fib extension level of the upward move from the $27,185 swing low to the $28,284 high.<\/p>\n

The next major support is near the $26,500 level. A downside break and close below the $26,500 support might send the price further lower. The next support sits at $26,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $27,000, followed by $26,500.<\/p>\n

Major Resistance Levels \u2013 $27,400, $27,500, and $28,500.<\/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-30802","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\/30802","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=30802"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/30802\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=30802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=30802"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=30802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}