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{"id":524760,"date":"2023-03-29T03:12:30","date_gmt":"2023-03-29T03:12:30","guid":{"rendered":"https:\/\/wncen.com\/?p=524760"},"modified":"2024-06-11T14:34:39","modified_gmt":"2024-06-11T14:34:39","slug":"bitcoin-price-correction-27k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-correction-27k\/","title":{"rendered":"Bitcoin Price Indicators Show Vulnerability to Another Downside Correction"},"content":{"rendered":"

Bitcoin price is attempting a recovery wave above the $27,000 resistance. BTC could gain bullish momentum if it clears the $27,700 resistance zone.<\/em><\/p>\n

\n
Bitcoin is slowly moving higher from the $26,500 support.<\/li>\n
The price is trading below $27,500 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $27,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a fresh decline if it fails to clear the $27,700 resistance zone.<\/li>\n<\/ul>\n
Bitcoin Price Faces Hurdle<\/h2>\n
Bitcoin price remained well bid above the $26,500 support zone<\/a>. BTC formed a base and recently started a fresh increase above the $26,850 resistance zone.<\/p>\n
There was a move above the $27,000 resistance zone. The price even spiked above the 50% Fib retracement level of the key decline from the $28,240 swing high to $26,490 low. However, the bears seem to be active near the $27,500 resistance zone.<\/p>\n
Bitcoin price is now trading below $27,500 and the 100 hourly simple moving average<\/a>. There is also a key bearish trend line forming with resistance near $27,700 on the hourly chart of the BTC\/USD pair.<\/p>\n
On the upside, an immediate resistance is near the $27,500 level and the 100 hourly simple moving average. The next major resistance is near the $27,700 zone and the trend line. The trend line is near the 61.8% Fib retracement level of the key decline from the $28,240 swing high to $26,490 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
A close above the trend line resistance might send the price towards the $28,200 resistance. In the stated case, the price could climb higher towards the $28,800 resistance, above which the price might start a steady increase.<\/p>\n
Fresh Decline in BTC?<\/h2>\n
If bitcoin price fails to clear the $27,700 resistance, it could start another decline. An immediate support on the downside is near the $27,000 zone.<\/p>\n
The next major support is near the $26,650 zone. A downside break below the $26,650 support might spark bearish moves. The next major support is near the $25,500 level, below which the bears might take control.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $27,000, followed by $26,650.<\/p>\n
Major Resistance Levels \u2013 $27,500, $27,700 and $28,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is attempting a recovery wave above the $27,000 resistance. BTC could gain bullish momentum if it clears the $27,700 resistance zone. Bitcoin is slowly moving higher from the $26,500 support. The price is trading below $27,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $27,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh decline if it fails to clear the $27,700 resistance zone. Bitcoin Price Faces Hurdle Bitcoin price remained well bid above the $26,500 support zone. BTC formed a base and recently started a fresh increase above the $26,850 resistance zone. There was a move above the $27,000 resistance zone. The price even spiked above the 50% Fib retracement level of the key decline from the $28,240 swing high to $26,490 low. However, the bears seem to be active near the $27,500 resistance zone. Bitcoin price is now trading below $27,500 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $27,700 on the hourly chart of the BTC\/USD pair. On the upside, an immediate resistance is near the $27,500 level and the 100 hourly simple moving average. The next major resistance is near the $27,700 zone and the trend line. The trend line is near the 61.8% Fib retracement level of the key decline from the $28,240 swing high to $26,490 low. Source: BTCUSD on TradingView.com A close above the trend line resistance might send the price towards the $28,200 resistance. In the stated case, the price could climb higher towards the $28,800 resistance, above which the price might start a steady increase. Fresh Decline in BTC? If bitcoin price fails to clear the $27,700 resistance, it could start another decline. An immediate support on the downside is near the $27,000 zone. The next major support is near the $26,650 zone. A downside break below the $26,650 support might spark bearish moves. The next major support is near the $25,500 level, below which the bears might take control. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $27,000, followed by $26,650. Major Resistance Levels \u2013 $27,500, $27,700 and $28,200.<\/p>\n","protected":false},"author":67,"featured_media":463274,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-524760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Indicators Show Vulnerability to Another Downside Correction<\/title>\n<meta name=\"description\" content=\"Bitcoin price is attempting a recovery wave above the $27,000 resistance. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Indicators Show Vulnerability to Another Downside Correction","url":"http:\/\/wncen.com\/news\/bitcoin-price-correction-27k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-correction-27k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_614141174.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_614141174.jpg?fit=1000%2C740"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-03-29T03:12:30Z","datePublished":"2023-03-29T03:12:30Z","dateModified":"2024-06-11T14:34:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Indicators Show Vulnerability to Another Downside Correction\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-correction-27k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-correction-27k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_614141174.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_614141174.jpg?fit=1000%2C740\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-03-29T03:12:30Z\",\"datePublished\":\"2023-03-29T03:12:30Z\",\"dateModified\":\"2024-06-11T14:34:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_614141174.jpg?fit=1000%2C740","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=524760"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463274"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=524760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=524760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=524760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}