BTCUSD on TradingView.com<\/a><\/p>\nA close above the $27,500 resistance might start a steady increase toward the $28,000 level. The main hurdle is still $28,500, above which the price could start another increase. In the stated case, the price could rise toward the $30,000 resistance.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to recover higher above the $27,200 resistance, there could be more losses. Immediate support on the downside is near the $26,550 level.<\/p>\n
The next major support is near the $26,500 level. A downside break and close below the $26,500 support might send the price further lower. The next support sits at $26,000.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish 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 $26,550, followed by $26,500.<\/p>\n
Major Resistance Levels \u2013 $27,200, $27,400, and $27,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is consolidating above the $26,550 level. BTC could correct higher, but upsides might be capped near the $27,400 and $27,500 resistance levels. Bitcoin is finding bids near the $26,550 level. The price is trading below $27,200 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but the bears might remain active near the $27,500 zone. Bitcoin Price Holds Support Bitcoin price started a fresh decline from the $27,500 resistance. BTC traded below the $27,000 level to enter a bearish zone. Finally, the bulls appeared above the $26,500 support. The price remained well-bid near the $26,550 level. The bears made two attempts to push the price below $26,550, but they failed. A low is formed near $26,551 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $28,285 swing high to the $26,551 low. Bitcoin is now trading below $27,200 and the 100 hourly Simple moving average. There is also a key bearish trend line forming with resistance near $26,200 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $26,950 level. The first major resistance is $27,200 and the 100 hourly Simple moving average. The next key resistance could be $27,400 and the trend line. It is close to the 50% Fib retracement level of the downward move from the $28,285 swing high to the $26,551 low. Source: BTCUSD on TradingView.com A close above the $27,500 resistance might start a steady increase toward the $28,000 level. The main hurdle is still $28,500, above which the price could start another increase. In the stated case, the price could rise toward the $30,000 resistance. More Losses In BTC? If Bitcoin fails to recover higher above the $27,200 resistance, there could be more losses. Immediate support on the downside is near the $26,550 level. The next major support is near the $26,500 level. A downside break and close below the $26,500 support might send the price further lower. The next support sits at $26,000. 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 now above the 50 level. Major Support Levels \u2013 $26,550, followed by $26,500. Major Resistance Levels \u2013 $27,200, $27,400, and $27,500.<\/p>\n","protected":false},"author":67,"featured_media":455352,"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-555241","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 Holds Ground But Upsides Turned Attractive To Bears<\/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