{"id":534327,"date":"2023-05-22T04:14:14","date_gmt":"2023-05-22T04:14:14","guid":{"rendered":"https:\/\/wncen.com\/?p=534327"},"modified":"2024-06-11T11:31:05","modified_gmt":"2024-06-11T11:31:05","slug":"bitcoin-price-holds-support-26550","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-holds-support-26550\/","title":{"rendered":"Bitcoin Price Holds Support But Bears Are Still In Control"},"content":{"rendered":"<p><em>Bitcoin price is holding the key $26,550 support zone. BTC could start a major decline if there is a close below $26,550 and $26,400.<\/em><\/p>\n<ul>\n<li>Bitcoin started another decline and traded below the $26,850 level.<\/li>\n<li>The price is trading below $27,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $27,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bearish momentum if there is a daily close below $26,550.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains In A Range<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-vulnerable-27500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">fresh decline<\/a> below the $27,000 level. BTC traded below the $26,800 support zone and trimmed most of its gains. However, the bulls were active near the $26,550 support.<\/p>\n<p>A low is formed near $26,536 and the price is now consolidating losses. It is clearly showing bearish signs below $27,000 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance near $27,120 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price is now facing resistance near the $26,720 level. It is close to the 23.6% Fib retracement level of the recent decline from the $27,268 swing high to the $26,536 low.<\/p>\n<p>The next major resistance is near the $27,000 level and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rally-28k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. It is close to the 61.8% Fib retracement level of the recent decline from the $27,268 swing high to the $26,536 low. The first major resistance is near the trend line.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-534329 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/Bitcoin-15.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A close above the $27,120 resistance might reduce selling pressure. The next key resistance is near $27,550, above which the price might start a decent increase toward the $28,000 resistance. Any more gains might send the price toward the $28,500 level.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s price fails to clear the $27,120 resistance, it could continue to move down. Immediate support on the downside is near the $26,550 level.<\/p>\n<p>The next major support is near the $26,350 zone, below which the price might gain bearish momentum. In the stated case, it could test the $25,800 level. Any more losses might take Bitcoin toward the $25,500 level in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $26,550, followed by $26,350.<\/p>\n<p>Major Resistance Levels \u2013 $27,000, $27,120, and $27,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is holding the key $26,550 support zone. BTC could start a major decline if there is a close below $26,550 and $26,400. Bitcoin started another decline and traded below the $26,850 level. The price is trading below $27,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $27,120 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could gain bearish momentum if there is a daily close below $26,550. Bitcoin Price Remains In A Range Bitcoin price started a fresh decline below the $27,000 level. BTC traded below the $26,800 support zone and trimmed most of its gains. However, the bulls were active near the $26,550 support. A low is formed near $26,536 and the price is now consolidating losses. It is clearly showing bearish signs below $27,000 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance near $27,120 on the hourly chart of the BTC\/USD pair. Bitcoin price is now facing resistance near the $26,720 level. It is close to the 23.6% Fib retracement level of the recent decline from the $27,268 swing high to the $26,536 low. The next major resistance is near the $27,000 level and the 100 hourly Simple moving average. It is close to the 61.8% Fib retracement level of the recent decline from the $27,268 swing high to the $26,536 low. The first major resistance is near the trend line. Source: BTCUSD on TradingView.com A close above the $27,120 resistance might reduce selling pressure. The next key resistance is near $27,550, above which the price might start a decent increase toward the $28,000 resistance. Any more gains might send the price toward the $28,500 level. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $27,120 resistance, it could continue to move down. Immediate support on the downside is near the $26,550 level. The next major support is near the $26,350 zone, below which the price might gain bearish momentum. In the stated case, it could test the $25,800 level. Any more losses might take Bitcoin toward the $25,500 level in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $26,550, followed by $26,350. Major Resistance Levels \u2013 $27,000, $27,120, and $27,500.<\/p>\n","protected":false},"author":67,"featured_media":462954,"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-534327","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":"\n<title>Bitcoin Price Holds Support But Bears Are Still In Control<\/title>\n<meta name=\"description\" content=\"Bitcoin price is holding the key $26,550 support zone. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Holds Support But Bears Are Still In Control","url":"http:\/\/wncen.com\/news\/bitcoin-price-holds-support-26550\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-holds-support-26550\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_173627021.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_173627021.jpg?fit=1000%2C693"},"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":"2023-05-22T04:14:14Z","datePublished":"2023-05-22T04:14:14Z","dateModified":"2024-06-11T11:31:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Holds Support But Bears Are Still In Control\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-holds-support-26550\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-holds-support-26550\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_173627021.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_173627021.jpg?fit=1000%2C693\"},\"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\":\"2023-05-22T04:14:14Z\",\"datePublished\":\"2023-05-22T04:14:14Z\",\"dateModified\":\"2024-06-11T11:31:05Z\"}<\/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_173627021.jpg?fit=1000%2C693","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/534327"}],"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=534327"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/534327\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/462954"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=534327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=534327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=534327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}