Bitcoin Price Trims Losses But Key Breakout Resistance Is Still Intact

2023-6-7 05:18

Bitcoin price trimmed yesterday’s losses and climbed above $26,500. BTC is now again facing strong resistance near the $27,400 zone.

Bitcoin started a fresh decline after it dived toward the $25,500 support. The price is trading above $26,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance near $26,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now facing a major hurdle near the $27,400 and $27,500 levels. Bitcoin Price Revisits $27,500

Bitcoin price found support near the $25,400 zone after a major decline. BTC formed a base and was able to start a recovery wave above the $26,000 level.

There was a break above a connecting bearish trend line with resistance near $26,000 on the hourly chart of the BTC/USD pair. The pair was able to clear the $27,000 resistance to move into a positive zone. However, the bears were again active near the $27,400 and $27,500 levels.

A high is formed near $27,368 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent increase from the $25,369 swing low to the $27,368 high.

Bitcoin price is trading above $26,500 and the 100 hourly Simple moving average. Immediate resistance is near the $27,400 level. The next major resistance is near the $27,500 level. A close above $27,500 might send the price further higher.

Source: BTCUSD on TradingView.com

The next key resistance is near the $28,000 level. An upside break and close above $28,000 could start a decent increase toward $28,500. Any more gains above the $28,500 resistance zone might send the price toward the $29,500 resistance zone.

Fresh Decline in BTC?

If Bitcoin’s price fails to clear the $27,400 resistance, it could start another decline. Immediate support on the downside is near the $26,800 level and the 100 hourly SMA.

The next major support is near the $26,400 zone or the 50% Fib retracement level of the recent increase from the $25,369 swing low to the $27,368 high, below which the price might regain bearish momentum. In the stated case, the price could drop toward the $26,000 support.

Technical indicators:

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

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

Major Support Levels – $26,400, followed by $26,000.

Major Resistance Levels – $27,400, $27,500, and $28,500.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68790.35 (-0.08%)
Объем 24H $41.347b
Изменеия 24h: -0.08 %, 7d: -3.62 %
Cегодня L: $66916.68 - H: $68910.37
Капитализация $1360.443b Rank 1
Цена в час новости $ 26964.85 (155.11%)

bitcoin resistance price 500 losses zone near

Источник: newsbtc.com

bitcoin resistance → Результатов: 126


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.