Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $28K

2023-6-5 05:14

Bitcoin price is struggling to clear the $27,500 resistance zone. BTC is sliding and there could be a sharp decline toward $25,550 in the coming sessions.

Bitcoin is still struggling to stay above the $27,000 support zone. The price is trading below $27,200 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $27,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could revisit the $26,550 support and might continue to decline. Bitcoin Price Faces Resistance

Bitcoin price started a minor upside correction from the $26,550 support zone. BTC climbed above the $27,000 resistance zone and the 100 hourly Simple moving average.

There was a move above the 23.6% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. However, the bears were active near the $27,500 resistance zone. There was no convincing move above the $27,350 resistance zone.

Bitcoin price stayed below the 50% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. It is now trading below $27,200 and the 100 hourly Simple moving average.

Immediate resistance on the upside is near the $27,200 level and the 100 hourly Simple moving average. The next major resistance is near the $27,350 level. The main resistance sits near the $27,500 level.

Source: BTCUSD on TradingView.com

An upside break and close above $27,500 could start a decent increase toward $28,000. Any more gains above the $28,000 resistance zone might send the price toward the $28,500 resistance zone. If there is a close above the $28,500 resistance, there could be a move toward the $30,000 resistance zone in the near term.

More Losses in BTC?

If Bitcoin’s price fails to clear the $27,350 resistance, it could continue to move down. Immediate support on the downside is near the $26,800 level.

The next major support is near the $26,550 zone, below which the price might start a strong decline. In the stated case, the price could drop toward the $25,500 support in the coming sessions.

Technical indicators:

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

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

Major Support Levels – $26,800, followed by $26,550.

Major Resistance Levels – $27,200, $27,350, and $27,500.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 76553.32 (+0.22%)
Объем 24H $65.07b
Изменеия 24h: 1.15 %, 7d: 9.23 %
Cегодня L: $74544.69 - H: $76746.29
Капитализация $1514.158b Rank 1
Цена в час новости $ 26783.39 (185.82%)

bitcoin struggling zone price toward 550 decline

Источник: newsbtc.com

bitcoin struggling → Результатов: 126


Preview Of The Peak: November Rains Red For Bitcoin Holders

Bitcoin price is struggling to maintain support at $60,000, having fallen more than 15% from the local record set earlier this month. But could the November rain storm that has resulted in a short-term bloodbath in crypto, be merely the final shakeout before the cycle peak is in? And could past cycles provide a preview of what this sort of scenario looks like? Let’s take a closer look.

2021-11-18 23:53


Фото:

Bitcoin S2F Model Predicts $100K Price, But Time Model Points To $30K – Analysts Bet On Most Likely Prospect

Discussions on the closing price of Bitcoin have surfaced since the beginning of the 4th quarter. Many market observers, investors, and traders have a thing or two to say about where prices are headed, especially as the market is constantly struggling to beat the fundamental bearish storm that has plagued it since May. The S2F […]

2021-9-29 00:18


Фото:

‘Ethereum Driving Crypto Markets, Not Bitcoin’ Asserts Quantum Economic Exec Following London Hard Fork

Competition between Ethereum and Bitcoin for dominancy seems to have stepped up especially after last week’s “London” dubbed hard fork which saw the second-largest cryptocurrency by market capitalization change the way transaction fees, or “gas fees,” are estimated, leaving Bitcoin struggling in the murky waters of energy concerns. Experts have continued to weigh in on […]

2021-8-12 14:11


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.