Bitcoin Price Consolidates Losses, This Resistance Might Trigger Another Drop

2023-5-10 05:29

Bitcoin price is consolidating losses below $28,200. BTC could start another decline unless there is a clear move above the $28,500 resistance.

Bitcoin is consolidating losses and trading above the $27,000 support. The price is trading below $28,200 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $28,040 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if stays below $28,200 and $28,500. Bitcoin Price Stable Above $27K

Bitcoin price remained in a bearish zone below the $28,200 support zone. BTC tested the $27,200 support zone and now seems to be consolidating above the $27,400 level.

A low is formed near $27,282 and the price is now slowly moving higher. It is consolidating near the 23.6% Fib retracement level of the swing move from the $29,129 high to the $27,282 low. However, it is still trading below $28,200 and the 100 hourly Simple moving average.

Bitcoin price is now facing resistance near the $28,000 zone. Besides, there is a key bearish trend line forming with resistance near $28,040 on the hourly chart of the BTC/USD pair.

The next major resistance is near the $28,200 level or the 50% Fib retracement level of the swing move from the $29,129 high to the $27,282 low. The main resistance is now forming near the $28,500 level and the 100 hourly Simple moving average.

Source: BTCUSD on TradingView.com

A close above the $28,500 resistance might spark a decent increase. The next key resistance is near $29,125, above which the price might climb toward the $29,500 resistance. Any more gains could open the doors for a decent move toward the $30,000 resistance.

More Losses in BTC?

If Bitcoin’s price fails to clear the $28,200 resistance, it could continue to move down. Immediate support on the downside is near the $27,250 level.

The next major support is near the $27,000 zone, below which the price might accelerate losses and drop to the $26,000 support zone. Any more losses might take Bitcoin toward the $25,500 level in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $27,250, followed by $27,000.

Major Resistance Levels – $28,050, $28,200, and $28,500.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 69532.37 (+0.29%)
Объем 24H $43.962b
Изменеия 24h: 1.72 %, 7d: -3.27 %
Cегодня L: $66916.68 - H: $70054.19
Капитализация $1376.412b Rank 1
Цена в час новости $ 27554.38 (152.35%)

losses bitcoin another consolidating resistance above price

Источник: newsbtc.com

losses bitcoin → Результатов: 126


Bitcoin Triggers First Sell Signal Since Last Month While S&P 500 Moves Closer to ATH

Today, the markets have been extending the losses from yesterday. Not just bitcoin but stocks also started by incurring losses despite better than expected retail sales and stable unemployment data, but as economist and trader Alex Kruger said, “the market has stopped reacting to it in the past few weeks.” What has been affecting the […]

2020-7-17 15:36


Consecutive Losses for Tron [TRX] – Price Outlook Changes From Bullish to Bearish

For much of 2018, there has been a reoccurring trend in the crypto markets. When Bitcoin falls, altcoins fall but fall further. When Bitcoin rises, altcoins rise but rise higher. However, for much of 2018 the crypto market has been in a downtrend, and last week when Bitcoin blasted through $6850 as noted here, this […] Consecutive Losses for Tron [TRX] – Price Outlook Changes From Bullish to Bearish was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-7-23 20:01


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.