{"id":536432,"date":"2023-06-05T02:14:44","date_gmt":"2023-06-05T02:14:44","guid":{"rendered":"https:\/\/wncen.com\/?p=536432"},"modified":"2024-06-11T10:42:04","modified_gmt":"2024-06-11T10:42:04","slug":"bitcoin-price-vulnerable-28k-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-price-vulnerable-28k-2\/","title":{"rendered":"Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $28K"},"content":{"rendered":"<p><em>Bitcoin price is struggling to clear the $27,500 resistance zone. BTC is sliding and there could be a sharp decline toward $25,550 in the coming sessions.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to stay above the $27,000 support zone.<\/li>\n<li>The price is trading below $27,200 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $27,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could revisit the $26,550 support and might continue to decline.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-confluence-27500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">minor upside correction<\/a> from the $26,550 support zone. BTC climbed above the $27,000 resistance zone and the 100 hourly Simple moving average.<\/p>\n<p>There was a move above the 23.6% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. However, the bears were active near the $27,500 resistance zone. There was no convincing move above the $27,350 resistance zone.<\/p>\n<p>Bitcoin price stayed below the 50% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. It is now trading below $27,200 and the <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-takes-hit-26550\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>.<\/p>\n<p>Immediate resistance on the upside is near the $27,200 level and the 100 hourly Simple moving average. The next major resistance is near the $27,350 level. The main resistance sits near the $27,500 level.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-536433\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png?resize=1950%2C1109\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1109\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png?w=1950 1950w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.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>An upside break and close above $27,500 could start a decent increase toward $28,000. Any more gains above the $28,000 resistance zone might send the price toward the $28,500 resistance zone. If there is a close above the $28,500 resistance, there could be a move toward the $30,000 resistance zone in the near term.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s price fails to clear the $27,350 resistance, it could continue to move down. Immediate support on the downside is near the $26,800 level.<\/p>\n<p>The next major support is near the $26,550 zone, below which the price might start a strong decline. In the stated case, the price could drop toward the $25,500 support in the coming sessions.<\/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 below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $26,800, followed by $26,550.<\/p>\n<p>Major Resistance Levels \u2013 $27,200, $27,350, and $27,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to clear the $27,500 resistance zone. BTC is sliding and there could be a sharp decline toward $25,550 in the coming sessions. Bitcoin is still struggling to stay above the $27,000 support zone. The price is trading below $27,200 and the 100 hourly Simple moving average. There was a break below a key bullish trend line with support near $27,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could revisit the $26,550 support and might continue to decline. Bitcoin Price Faces Resistance Bitcoin price started a minor upside correction from the $26,550 support zone. BTC climbed above the $27,000 resistance zone and the 100 hourly Simple moving average. There was a move above the 23.6% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. However, the bears were active near the $27,500 resistance zone. There was no convincing move above the $27,350 resistance zone. Bitcoin price stayed below the 50% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. It is now trading below $27,200 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $27,200 level and the 100 hourly Simple moving average. The next major resistance is near the $27,350 level. The main resistance sits near the $27,500 level. Source: BTCUSD on TradingView.com An upside break and close above $27,500 could start a decent increase toward $28,000. Any more gains above the $28,000 resistance zone might send the price toward the $28,500 resistance zone. If there is a close above the $28,500 resistance, there could be a move toward the $30,000 resistance zone in the near term. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $27,350 resistance, it could continue to move down. Immediate support on the downside is near the $26,800 level. The next major support is near the $26,550 zone, below which the price might start a strong decline. In the stated case, the price could drop toward the $25,500 support in the coming sessions. 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 below the 50 level. Major Support Levels \u2013 $26,800, followed by $26,550. Major Resistance Levels \u2013 $27,200, $27,350, and $27,500.<\/p>\n","protected":false},"author":67,"featured_media":464763,"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-536432","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 Topside Bias Vulnerable If It Continues To Struggle Below $28K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is struggling to clear the $27,500 resistance 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 Topside Bias Vulnerable If It Continues To Struggle Below $28K","url":"http:\/\/wncen.com\/news\/bitcoin-price-vulnerable-28k-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-price-vulnerable-28k-2\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_1610297188.jpg?fit=1000%2C556"},"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":"2023-06-05T02:14:44Z","datePublished":"2023-06-05T02:14:44Z","dateModified":"2024-06-11T10:42:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $28K\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-vulnerable-28k-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-price-vulnerable-28k-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1610297188.jpg?fit=1000%2C556\"},\"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\":\"2023-06-05T02:14:44Z\",\"datePublished\":\"2023-06-05T02:14:44Z\",\"dateModified\":\"2024-06-11T10:42:04Z\"}<\/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_1610297188.jpg?fit=1000%2C556","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/536432"}],"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=536432"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/536432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464763"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=536432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=536432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=536432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}