Bitcoin Price Technical Breakdown Could Take BTC Toward $25K

2023-5-12 05:36

Bitcoin price is moving lower below the $28,000 level. BTC is at risk of a downside break toward the $25,000 support in the near term.

Bitcoin struggled to recover above the $27,500 and $27,800 resistance levels. The price is trading below $27,500 and the 100 hourly Simple moving average. There are two bearish trend lines forming with resistance near $27,000 and $27,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it breaks the $26,750 support zone. Bitcoin Price Extends Decline

Bitcoin price failed to start a recovery wave above the $27,800 level. BTC remained in a bearish zone and settled below the $27,500 support zone.

The bears were able to push the price below the $27,000 level. A low is formed near $26,720 and the price is now showing a lot of bearish signs. It is still trading below $27,500 and the 100 hourly Simple moving average. There are also two bearish trend lines forming with resistance near $27,000 and $27,800 on the hourly chart of the BTC/USD pair.

Bitcoin price is likely to face sellers near the $27,000 level or the 23.6% Fib retracement level recent drop from the $28,335 swing high to the $26,720 low.

The next major resistance is near the $27,350 level. The main resistance is now forming near the next trend line and $27,800. It is close to the 50% Fib retracement level recent drop from the $28,335 swing high to the $26,720 low.

Source: BTCUSD on TradingView.com

A close above the $27,800 resistance and the 100 hourly Simple moving average might start a decent increase. The next key resistance is near $28,000, above which the price might climb toward the $28,500 resistance.

More Losses in BTC?

If Bitcoin’s price fails to clear the $27,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,750 level.

The next major support is near the $26,500 zone, below which the price might gain bearish momentum. In the stated case, it could revisit the $26,000 level. Any more losses might take Bitcoin toward the $25,000 level in the near term.

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 now below the 50 level.

Major Support Levels – $26,750, followed by $26,000.

Major Resistance Levels – $27,000, $27,350, and $27,800.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 74851.15 (+0.11%)
Объем 24H $65.506b
Изменеия 24h: 0.30 %, 7d: 5.20 %
Cегодня L: $74544.69 - H: $76122.08
Капитализация $1480.481b Rank 1
Цена в час новости $ 26288.2 (184.73%)

bitcoin toward btc price term struggled near

Источник: newsbtc.com

bitcoin toward → Результатов: 126


Фото:

Analyst Who Predicted Bitcoin’s 2018 Lows Says Another Drop Is Likely

Bitcoin has undergone a strong drop since the highs of $19,500 seen last week A historically accurate analyst says that further losses are likely for the cryptocurrency The analyst shared a chart showing that Bitcoin is likely in the midst of trading in a dead cat bounce prior to further losses He cited the Elliot Wave form of technical analysis, which predicts that markets move in predictable waves.

2020-11-29 02:59


Quant Analyst: Surging Stablecoin Supply To Drive Unprecedented Bitcoin Buy Pressure

As Bitcoin soars toward a new all-time high and has recaptured the interest of the world of finance, a sizable supply of liquidity is building on exchanges, not in BTC, but in stablecoins. The rising supply alongside surging crypto valuations suggests that the recent rally is “liquidity-driven,” according to one cryptocurrency quantitative analyst.

2020-11-25 18:00


Фото:

Historically Accurate Analyst Expects Bitcoin to Hit $18,000 In Coming Days

Bitcoin has been rallying higher once again after days of consolidation. The cryptocurrency currently trades for $16,100, though traded as high as $16,500 hours ago. A leading analyst says that Bitcoin is trading in the midst of a textbook Elliot Wave pattern that will likely end with BTC peaking at $18,200 in the coming days, then correct toward $15,000.

2020-11-14 10:00


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.