{"id":142101,"date":"2023-09-01T20:16:28","date_gmt":"2023-09-01T14:46:28","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=142101"},"modified":"2023-09-01T20:16:28","modified_gmt":"2023-09-01T14:46:28","slug":"bitcoin-price-could-range-trade-before-the-next-big-move-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-could-range-trade-before-the-next-big-move-crypto-news\/","title":{"rendered":"Bitcoin Price Could Range Trade Before The Next Big Move &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is consolidating above the $25,500 level. BTC could start a decent increase if there is a close above the $27,000 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to clear the $26,500 resistance zone.<\/li>\n<li>The price is trading near $26,100 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a connecting bullish trend line with support near $26,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to trade in a range before the next major move.<\/li>\n<\/ul>\n<h2>Bitcoin Price Slides Again<\/h2>\n<p>Bitcoin price started a recovery wave above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-26500\/\">$26,250 resistance level<\/a>. BTC even cleared the $26,500 level but the bears were active near the $26,750 zone.<\/p>\n<p>A high was formed near $26,779 and the price started a fresh decline. There was a move below the $26,500 level. The price declined below the 50% Fib retracement level of the recovery move from the $25,360 swing low to the $26,779 high.<\/p>\n<p>Besides, there was a break below a connecting bullish trend line with support near $26,400 on the hourly chart of the BTC\/USD pair. The pair tested the 61.8% Fib retracement level of the recovery move from the $25,360 swing low to the $26,779 high.<\/p>\n<p>Bitcoin is trading near $26,100 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-pushing-26500\/\">100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $26,400 level. The first major resistance is now near the $26,780 level, above which the price might rise 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>To start a strong increase, the price must settle above the $27,000 resistance. In the stated case, the price could test the $27,800 level. Any more gains might set the pace for a larger increase toward $28,200.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,400 resistance, it could continue to move down. Immediate support on the downside is near the $25,900 zone.<\/p>\n<p>The next major support is near the $25,400 level. A downside break below the $25,400 level might push the price again into a bearish zone. In the stated case, the price could drop toward $24,800.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing 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 $25,900, followed by $25,400.<\/p>\n<p>Major Resistance Levels \u2013 $26,400, $26,780, and $27,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating above the $25,500 level. BTC could start a decent increase if there is a close above the $27,000 resistance. Bitcoin is struggling to clear the $26,500 resistance zone. The price is trading near $26,100 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":133782,"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-142101","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\/142101","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=142101"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142101\/revisions"}],"predecessor-version":[{"id":142102,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/142101\/revisions\/142102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/133782"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=142101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=142101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=142101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}