{"id":139893,"date":"2023-09-02T00:42:53","date_gmt":"2023-09-01T19:12:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=139893"},"modified":"2023-09-02T00:42:53","modified_gmt":"2023-09-01T19:12:53","slug":"bitcoin-price-consolidates-losses-and-at-risk-of-fresh-decline-to-25k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-consolidates-losses-and-at-risk-of-fresh-decline-to-25k-crypto-news\/","title":{"rendered":"Bitcoin Price Consolidates Losses and At Risk of Fresh Decline To $25K &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is consolidating losses below the $26,500 level. BTC is showing bearish signs and remains at risk of a fresh decline toward $25,000.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to recover above the $26,600 resistance zone.<\/li>\n<li>The price is trading below $26,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term bullish trend line forming with support near $26,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move down and trade below the $26,000 support.<\/li>\n<\/ul>\n<h2>Bitcoin Price Turns Red<\/h2>\n<p>Bitcoin price started a recovery wave from the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-nosedives-25k-2\/\">$24,800 support zone<\/a>. BTC managed to recover above the $25,000 and $25,500 resistance levels.<\/p>\n<p>There was a move above the 23.6% Fib retracement level of the downward move from the $29,180 swing high to the $24,800 low. However, the price is facing a lot of hurdles on the upside near $26,600. It is still trading below $26,500 and the 100 hourly Simple moving average.<\/p>\n<p>Besides, there is a short-term bullish trend line forming with support near $26,050 on the hourly chart of the BTC\/USD pair. If Bitcoin stays above the trend line, it could attempt a recovery wave.<\/p>\n<p>Immediate resistance is near the $26,400 level. The next major resistance is near $26,500 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-plunges-28400\/\">100 hourly Simple moving average<\/a>. A clear move above the 100 hourly Simple moving average could start a recovery wave toward the $27,000 resistance.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The 50% Fib retracement level of the downward move from the $29,180 swing high to the $24,800 low is near $27,000 to act as a resistance. A close above the $27,000 resistance could start a decent increase toward the $27,500 resistance zone. Any more gains might set the pace for a larger increase toward $28,150.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,000 zone and the trend line.<\/p>\n<p>The next major support is near the $25,600 level. A downside break below the $25,600 level might push the price further into a bearish zone. In the stated case, the price could drop toward $25,000.<\/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 now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $26,000, followed by $25,600.<\/p>\n<p>Major Resistance Levels \u2013 $26,500, $27,000, and $27,500.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating losses below the $26,500 level. BTC is showing bearish signs and remains at risk of a fresh decline toward $25,000. Bitcoin is struggling to recover above the $26,600 resistance zone. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a short-term bullish trend line forming [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7746,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-139893","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139893","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=139893"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139893\/revisions"}],"predecessor-version":[{"id":139894,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/139893\/revisions\/139894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/7746"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=139893"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=139893"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=139893"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}