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{"id":544194,"date":"2023-07-25T03:39:30","date_gmt":"2023-07-25T03:39:30","guid":{"rendered":"https:\/\/wncen.com\/?p=544194"},"modified":"2024-06-11T13:40:31","modified_gmt":"2024-06-11T13:40:31","slug":"bitcoin-price-hits-bearish-target-28800","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-hits-bearish-target-28800\/","title":{"rendered":"Bitcoin Price Hits Next Bearish Target But Bears Are Not Done Yet"},"content":{"rendered":"

Bitcoin price extended its decline and traded below $29,000. BTC is still at risk of more downsides toward the $28,200 support zone in the near term.<\/em><\/p>\n

\n
Bitcoin is gaining bearish momentum below the $29,200 level.<\/li>\n
The price is trading below $29,500 and the 100 hourly Simple moving average.<\/li>\n
There was a break below a major bullish trend line with support near $29,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could extend its decline toward the $28,200 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Turns Red<\/h2>\n
Bitcoin price settled below the $30,000 support zone<\/a> to move into a bearish zone. BTC even broke the key $29,650 support zone to start a fresh decline.<\/p>\n
Besides, there was a break below a major bullish trend line with support near $29,700 on the hourly chart of the BTC\/USD pair. The pair tested the $28,880 level. A new weekly low is formed near $28,880 and the price is now consolidating losses.<\/p>\n
Bitcoin is trading below $29,500 and the 100 hourly Simple moving average. Immediate resistance is near the $29,250 level. It is close to the 23.6% Fib retracement level of the recent decline from the $30,333 swing high to the $28,880 low.<\/p>\n
The first major resistance is near the $29,750 level and the 100 hourly Simple moving average<\/a>. It is near the 61.8% Fib retracement level of the recent decline from the $30,333 swing high to the $28,880 low.<\/p>\n
$\"Bitcoin$ <\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next major resistance is near the $30,000 level. A close above the $30,000 level might start a fresh increase. In the stated case, the price could rise toward the $30,400 resistance. Any more gains could open the doors for a move toward the $30,850 resistance zone.<\/p>\n
More Losses in BTC?<\/h2>\n
If Bitcoin fails to clear the $29,250 resistance, it could continue to move down. Immediate support on the downside is near the $28,880 level.<\/p>\n
The next major support is near the $28,500 level, below which the price could struggle to recover. The next support is near the $28,200 level. Any more losses might call for a move toward the $27,500 level in the near term.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $28,880, followed by $28,200.<\/p>\n
Major Resistance Levels \u2013 $29,250, $29,750, and $30,000.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price extended its decline and traded below $29,000. BTC is still at risk of more downsides toward the $28,200 support zone in the near term. Bitcoin is gaining bearish momentum below the $29,200 level. The price is trading below $29,500 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support near $29,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its decline toward the $28,200 support zone. Bitcoin Price Turns Red Bitcoin price settled below the $30,000 support zone to move into a bearish zone. BTC even broke the key $29,650 support zone to start a fresh decline. Besides, there was a break below a major bullish trend line with support near $29,700 on the hourly chart of the BTC\/USD pair. The pair tested the $28,880 level. A new weekly low is formed near $28,880 and the price is now consolidating losses. Bitcoin is trading below $29,500 and the 100 hourly Simple moving average. Immediate resistance is near the $29,250 level. It is close to the 23.6% Fib retracement level of the recent decline from the $30,333 swing high to the $28,880 low. The first major resistance is near the $29,750 level and the 100 hourly Simple moving average. It is near the 61.8% Fib retracement level of the recent decline from the $30,333 swing high to the $28,880 low. Source: BTCUSD on TradingView.com The next major resistance is near the $30,000 level. A close above the $30,000 level might start a fresh increase. In the stated case, the price could rise toward the $30,400 resistance. Any more gains could open the doors for a move toward the $30,850 resistance zone. More Losses in BTC? If Bitcoin fails to clear the $29,250 resistance, it could continue to move down. Immediate support on the downside is near the $28,880 level. The next major support is near the $28,500 level, below which the price could struggle to recover. The next support is near the $28,200 level. Any more losses might call for a move toward the $27,500 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 $28,880, followed by $28,200. Major Resistance Levels \u2013 $29,250, $29,750, and $30,000.<\/p>\n","protected":false},"author":67,"featured_media":459296,"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-544194","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 Hits Next Bearish Target But Bears Are Not Done Yet<\/title>\n<meta name=\"description\" content=\"Bitcoin price extended its decline and traded below $29,000. 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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 Hits Next Bearish Target But Bears Are Not Done Yet","url":"http:\/\/wncen.com\/news\/bitcoin-price-hits-bearish-target-28800\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-hits-bearish-target-28800\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_1324745120.jpg?fit=1000%2C667"},"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":"2023-07-25T03:39:30Z","datePublished":"2023-07-25T03:39:30Z","dateModified":"2024-06-11T13:40:31Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Hits Next Bearish Target But Bears Are Not Done Yet\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-hits-bearish-target-28800\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-hits-bearish-target-28800\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_1324745120.jpg?fit=1000%2C667\"},\"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\":\"2023-07-25T03:39:30Z\",\"datePublished\":\"2023-07-25T03:39:30Z\",\"dateModified\":\"2024-06-11T13:40:31Z\"}<\/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\/03\/shutterstock_1324745120.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544194"}],"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=544194"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/544194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459296"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=544194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=544194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=544194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}