Bitcoin price is consolidating above the $25,500 support. BTC could start a fresh increase if it settles above the 100 hourly SMA and $26,150.
Bitcoin is slowly moving higher from the $25,500 support zone.
The price is trading below $26,000 and the 100 hourly Simple moving average.
There was a break above a major bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start a recovery wave if there is a move above the $26,150 resistance.
Bitcoin Price Eyes Recovery
Bitcoin price formed a base above the $25,400 support zone. BTC is now consolidating and slowly moving higher above the $25,650 level but it faces many hurdles.
The bulls were able to push the price above the 50% Fib retracement level of the recent decline from the $26,200 swing high to the $25,620 low. Besides, there was a break above a major bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair.
Bitcoin price is now testing $26,000 and the 100 hourly Simple moving average. It seems to be facing resistance near the $26,000 zone or the 61.8% Fib retracement level of the recent decline from the $26,200 swing high to the $25,620 low.
The first major resistance is near the $26,150 level. A clear move above the $26,150 resistance might start a fresh increase. The next major resistance is near the $26,500 level. A close above $26,500 might start a move toward the $26,500 resistance zone.
Source: BTCUSD on TradingView.com
The next key resistance is near the $26,800 level, above which Bitcoin might rise toward the $27,000 resistance. Any more gains above the $27,000 resistance zone might send the price toward the $27,500 resistance zone.
Another Rejection in BTC?
If Bitcoin’s price fails to clear the $26,150 resistance, it could start another decline. Immediate support on the downside is near the $25,575 level.
The next major support is near the $25,400 level, below which the price might gain bearish momentum. In the stated case, the price could drop toward the $25,000 support 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 above the 50 level.
Major Support Levels – $25,575, followed by $25,500.
Major Resistance Levels – $26,000, $26,150, and $26,500.
Trang này có thể chứa nội dung của bên thứ ba, được cung cấp chỉ nhằm mục đích thông tin (không phải là tuyên bố/bảo đảm) và không được coi là sự chứng thực cho quan điểm của Gate hoặc là lời khuyên về tài chính hoặc chuyên môn. Xem Tuyên bố từ chối trách nhiệm để biết chi tiết.
Bitcoin Price Consolidates, Why 100 SMA Is The Key To Fresh Increase
Bitcoin price is consolidating above the $25,500 support. BTC could start a fresh increase if it settles above the 100 hourly SMA and $26,150.
Bitcoin Price Eyes Recovery
Bitcoin price formed a base above the $25,400 support zone. BTC is now consolidating and slowly moving higher above the $25,650 level but it faces many hurdles.
The bulls were able to push the price above the 50% Fib retracement level of the recent decline from the $26,200 swing high to the $25,620 low. Besides, there was a break above a major bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair.
Bitcoin price is now testing $26,000 and the 100 hourly Simple moving average. It seems to be facing resistance near the $26,000 zone or the 61.8% Fib retracement level of the recent decline from the $26,200 swing high to the $25,620 low.
The first major resistance is near the $26,150 level. A clear move above the $26,150 resistance might start a fresh increase. The next major resistance is near the $26,500 level. A close above $26,500 might start a move toward the $26,500 resistance zone.
Source: BTCUSD on TradingView.com
The next key resistance is near the $26,800 level, above which Bitcoin might rise toward the $27,000 resistance. Any more gains above the $27,000 resistance zone might send the price toward the $27,500 resistance zone.
Another Rejection in BTC?
If Bitcoin’s price fails to clear the $26,150 resistance, it could start another decline. Immediate support on the downside is near the $25,575 level.
The next major support is near the $25,400 level, below which the price might gain bearish momentum. In the stated case, the price could drop toward the $25,000 support 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 above the 50 level.
Major Support Levels – $25,575, followed by $25,500.
Major Resistance Levels – $26,000, $26,150, and $26,500.