BTCUSD on TradingView.com<\/a><\/p>\nA close above the $28,500 resistance could start a decent increase toward the $29,200 resistance zone. Any more gains might set the pace for a larger increase toward $30,000.<\/p>\n
Another Decline In BTC?<\/h2>\n If Bitcoin fails to clear the $27,500 resistance, it could continue to move down. Immediate support on the downside is near the $25,800 zone.<\/p>\n
The next major support is near the $25,500 level. A downside break below the $25,500 level might push the price further into a bearish zone. In the stated case, the price could drop toward $24,800.<\/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 40 level.<\/p>\n
Major Support Levels \u2013 $25,800, followed by $25,500.<\/p>\n
Major Resistance Levels \u2013 $27,000, $27,500, and $28,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price tumbled below the $28,400 support. BTC tested $24,800 and is currently attempting a recovery wave toward $27,000. Bitcoin is down over 6% and trading below the $27,000 support zone. The price is trading below $26,800 and the 100 hourly Simple moving average. There are two bearish trend lines forming with resistance near $27,500 and $28,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down and trade below the $25,800 support. Bitcoin Price Breaks Support Bitcoin price started a fresh decline after it failed to stay above the $28,400 support zone. BTC declined heavily after it broke the $28,000 support zone. It is down over 6% and there was a spike below the $25,500 support zone. A low is formed near $24,800 and the price is now attempting a recovery wave. It recovered above the $25,000 and $26,000 levels. However, the bears are now protecting the 50% Fib retracement level of the downward move from the $29,182 swing high to the $24,800 low. Bitcoin is now trading below $27,000 and the 100 hourly Simple moving average. There are two bearish trend lines forming with resistance near $27,500 and $28,500 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $27,000 level. The next major resistance is near $27,500 and the trend line. It is close to the 61.8% Fib retracement level of the downward move from the $29,182 swing high to the $24,800 low. The main resistance is now forming near the $28,500 zone and the 100 hourly Simple moving average. Source: BTCUSD on TradingView.com A close above the $28,500 resistance could start a decent increase toward the $29,200 resistance zone. Any more gains might set the pace for a larger increase toward $30,000. Another Decline In BTC? If Bitcoin fails to clear the $27,500 resistance, it could continue to move down. Immediate support on the downside is near the $25,800 zone. The next major support is near the $25,500 level. A downside break below the $25,500 level might push the price further into a bearish zone. In the stated case, the price could drop toward $24,800. 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 40 level. Major Support Levels \u2013 $25,800, followed by $25,500. Major Resistance Levels \u2013 $27,000, $27,500, and $28,500.<\/p>\n","protected":false},"author":67,"featured_media":462026,"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-547818","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
Bitcoin Price Nosedives and Turns Attractive To Sellers On Recovery<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n