{"id":537796,"date":"2023-06-14T02:39:53","date_gmt":"2023-06-14T02:39:53","guid":{"rendered":"https:\/\/wncen.com\/?p=537796"},"modified":"2024-06-11T14:37:37","modified_gmt":"2024-06-11T14:37:37","slug":"bitcoin-price-recovery-toward-27k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-recovery-toward-27k\/","title":{"rendered":"Bitcoin Price Looks Set To Start Recovery Toward $27K, Here\u2019s Why"},"content":{"rendered":"<p><em>Bitcoin price is forming a base above the $25,500 support. BTC could start a fresh increase if it clears the key $26,200 resistance zone in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is holding the key $25,500 support zone and consolidating.<\/li>\n<li>The price is trading above $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major rising channel forming with support near $25,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a recovery wave if there is a move above the $26,200 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Could Soon Recover<\/h2>\n<p>Bitcoin price is still trading above the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-consolidates-26000\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">$25,400 support zone<\/a>. BTC remained supported after the US CPI report was released which showed the inflation eased to 4% in May 2023.<\/p>\n<p>The price is slowly moving higher above the $25,800 level. It cleared the 50% Fib retracement level of the recent drop from the $26,260 swing high to the $25,713 low. Besides, there is a major rising channel forming with support near $25,750 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price is now trading above $26,000 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-at-significant-risk-25400\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. It seems to be facing resistance near the $26,150 level or the 76.4% Fib retracement level of the recent drop from the $26,260 swing high to the $25,713 low.<\/p>\n<p>The first major resistance is near the $26,200 level. A clear move above the $26,200 resistance might start a fresh increase. The next major resistance is near the $26,775 level, above which the bulls might send BTC toward the $27,000 resistance zone.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-537797\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-9.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>The next key resistance is near the $27,200 level, above which Bitcoin might rise toward the $27,500 resistance. Any more gains above the $27,500 resistance zone might send the price toward the $28,000 resistance zone.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If Bitcoin\u2019s price fails to clear the $26,200 resistance, it could start another decline. Immediate support on the downside is near the $25,780 level and the channel zone.<\/p>\n<p>The next major support is near the $25,500 level, below which the price might struggle to remain in a positive zone. In the stated case, the price could drop toward the $25,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $25,750, followed by $25,500.<\/p>\n<p>Major Resistance Levels \u2013 $26,150, $26,200, and $26,775.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is forming a base above the $25,500 support. BTC could start a fresh increase if it clears the key $26,200 resistance zone in the near term. Bitcoin is holding the key $25,500 support zone and consolidating. The price is trading above $26,000 and the 100 hourly Simple moving average. There is a major rising channel forming with support near $25,750 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 $26,200 resistance. Bitcoin Price Could Soon Recover Bitcoin price is still trading above the $25,400 support zone. BTC remained supported after the US CPI report was released which showed the inflation eased to 4% in May 2023. The price is slowly moving higher above the $25,800 level. It cleared the 50% Fib retracement level of the recent drop from the $26,260 swing high to the $25,713 low. Besides, there is a major rising channel forming with support near $25,750 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $26,000 and the 100 hourly Simple moving average. It seems to be facing resistance near the $26,150 level or the 76.4% Fib retracement level of the recent drop from the $26,260 swing high to the $25,713 low. The first major resistance is near the $26,200 level. A clear move above the $26,200 resistance might start a fresh increase. The next major resistance is near the $26,775 level, above which the bulls might send BTC toward the $27,000 resistance zone. Source: BTCUSD on TradingView.com The next key resistance is near the $27,200 level, above which Bitcoin might rise toward the $27,500 resistance. Any more gains above the $27,500 resistance zone might send the price toward the $28,000 resistance zone. Fresh Decline in BTC? If Bitcoin\u2019s price fails to clear the $26,200 resistance, it could start another decline. Immediate support on the downside is near the $25,780 level and the channel zone. The next major support is near the $25,500 level, below which the price might struggle to remain in a positive zone. In the stated case, the price could drop toward the $25,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is above the 50 level. Major Support Levels \u2013 $25,750, followed by $25,500. Major Resistance Levels \u2013 $26,150, $26,200, and $26,775.<\/p>\n","protected":false},"author":67,"featured_media":463643,"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-537796","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 Looks Set To Start Recovery Toward $27K, Here\u2019s Why<\/title>\n<meta name=\"description\" content=\"Bitcoin price is forming a base above the $25,500 support. 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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 Looks Set To Start Recovery Toward $27K, Here\u2019s Why","url":"http:\/\/wncen.com\/news\/bitcoin-price-recovery-toward-27k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-recovery-toward-27k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_609209402.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_609209402.jpg?fit=1000%2C554"},"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":"2023-06-14T02:39:53Z","datePublished":"2023-06-14T02:39:53Z","dateModified":"2024-06-11T14:37:37Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Looks Set To Start Recovery Toward $27K, Here\\u2019s Why\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-recovery-toward-27k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-recovery-toward-27k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_609209402.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_609209402.jpg?fit=1000%2C554\"},\"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\":\"2023-06-14T02:39:53Z\",\"datePublished\":\"2023-06-14T02:39:53Z\",\"dateModified\":\"2024-06-11T14:37:37Z\"}<\/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_609209402.jpg?fit=1000%2C554","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/537796"}],"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=537796"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/537796\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463643"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=537796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=537796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=537796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}