Bitcoin Price Close Above $27,500 Could Spark Larger Degree Rally

2023-9-20 05:38

Bitcoin price is eyeing a key upside break above the $27,500 resistance. BTC could rally further toward $28,200 if there is a close above $27,500.

Bitcoin is showing positive signs and facing hurdles near $27,500. The price is trading above $26,850 and the 100 hourly Simple moving average. There is a major bullish trend line forming with support near $26,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally further if there is a clear move above the $27,500 resistance. Bitcoin Price Eyes More Upsides

Bitcoin price started another increase above the $26,800 resistance zone. BTC remained well-bid and even settled above the $27,000 pivot level.

However, the bears are still active near the $27,500 zone. A high is formed near $27,494 and the price is now consolidating gains. It is trading just below the 23.6% Fib retracement level of the upward move from the $26,657 swing low to the $27,494 high.

Bitcoin is now trading above $26,850 and the 100 hourly Simple moving average. There is also a major bullish trend line forming with support near $26,800 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

It is consolidating gains and might eye a fresh increase. Immediate resistance on the upside is near the $27,450 level. The first major resistance is near the $27,500 zone, above which the price could start another rally. The next key resistance could be near the $28,200 level. A clear move above the $28,200 resistance could send the price toward the $29,500 resistance. In the stated case, the price could even test the $30,000 level in the coming days.

Are Dips Limited In BTC?

If Bitcoin fails to start a fresh increase above the $27,500 resistance, it could start a downside correction. Immediate support on the downside is near the $27,050 level.

The next major support is near the $26,800 level and the trend line. It is close to the 76.4% Fib retracement level of the upward move from the $26,657 swing low to the $27,494 high. A downside break and close below the $26,800 level might send the price toward the next support at $26,200.

Technical indicators:

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

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

Major Support Levels – $27,050, followed by $26,800.

Major Resistance Levels – $27,450, $27,500, and $28,200.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 66848.56 (-0.25%)
Объем 24H $22.74b
Изменеия 24h: -0.24 %, 7d: 6.10 %
Cегодня L: $66031.14 - H: $67263.11
Капитализация $1316.978b Rank 1
Цена в час новости $ 27073.42 (146.92%)

500 above bitcoin rally could close price

Источник: newsbtc.com

500 above → Результатов: 126


BTC / USD Price Analysis: Shock Therapy

Bitcoin retains its bullish short-term outlook, with the BTC / USD pair still trading above its 200-period moving average The four-hour time frame shows that a bearish head and shoulders pattern could be forming The medium-term outlook for the BTC / USD pair remains bullish while price trades above the $4,500 level BTC / USD […] The post BTC / USD Price Analysis: Shock Therapy appeared first on Crypto Briefing.

2019-4-26 16:25


Market Update: Bitcoin (BTC) Rallies Above $5,500, Key Target Achieved And On To $6,000

Bitcoin has secured one of its most key targets. In the last couple of hours, Bitcoin has crossed over above $5,500, breaking its most recent resistance positions of $5,400. With this achieved, the coin is currently aiming at a position above $6,000 and the new wave of green suggests that this will be done in […] The post Market Update: Bitcoin (BTC) Rallies Above $5,500, Key Target Achieved And On To $6,000 appeared first on ZyCrypto.

2019-4-23 15:44


Bitcoin Price: Key Technical Indicator Shows BTC Surging to $5,500

Throughout the past three months, the bitcoin price has flirted with the $4,200 resistance level, often struggling to maintain momentum above the key $4,000 mark. Several traders have demonstrated concerns over the extended period of stability demonstrated by bitcoin because, in late 2018, the cryptocurrency recorded a drop of around 50 percent following three months of stagnation in the $6,300 to $6,500 range.

2019-3-24 21:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru