{"id":145510,"date":"2023-09-01T14:12:15","date_gmt":"2023-09-01T08:42:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=145510"},"modified":"2023-09-01T14:12:15","modified_gmt":"2023-09-01T08:42:15","slug":"bitcoin-price-back-to-square-one-why-this-could-be-a-bearish-signal-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-back-to-square-one-why-this-could-be-a-bearish-signal-crypto-news\/","title":{"rendered":"Bitcoin Price Back To Square One, Why This Could Be A Bearish Signal &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price trimmed all gains and tested the $25,650 zone. BTC is now at risk of a fresh decline toward the $24,500 level in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline below the $26,500 and $26,200 levels.<\/li>\n<li>The price is trading below $26,600 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $26,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could extend its decline toward $24,500 in the coming sessions.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Fresh Decline<\/h2>\n<p>Bitcoin price failed to climb again above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-increase-to-28k\/\">$27,000 resistance zone<\/a>. BTC started a fresh decline and gained bearish momentum below the $26,500 level.<\/p>\n<p>There was a clear move below the $26,200 level. The price even spiked below the $26,000 level. A low is formed near $25,663 and the price is now consolidating losses. Bitcoin is now trading below $26,600 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-26500\/\">100 hourly Simple moving average<\/a>.<\/p>\n<p>Besides, there is a key bearish trend line forming with resistance near $26,750 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $26,250 level. It is close to the 23.6% Fib retracement level of the recent decline from the $28,150 swing high to the $25,663 low.<\/p>\n<p>The first major resistance is near the $26,650 level or the trend line region. The trend line is also close to the 50% Fib retracement level of the recent decline from the $28,150 swing high to the $25,663 low. The main resistance is now forming near the $27,000 level.<\/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>A clear move above the $27,000 level might send the price toward $27,400. The next major resistance is near $28,000, above which there could be a sustained increase. In the stated case, the price could test the $29,200 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,750 resistance, it could continue to move down. Immediate support on the downside is near the $25,800 level.<\/p>\n<p>The next major support is near the $25,650 level. A downside break below the $25,650 level might put a lot of pressure on the bulls. In the stated case, the price could drop toward $24,500.<\/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 $25,800, followed by $25,650.<\/p>\n<p>Major Resistance Levels \u2013 $26,250, $26,750, and $27,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price trimmed all gains and tested the $25,650 zone. BTC is now at risk of a fresh decline toward the $24,500 level in the near term. Bitcoin started a fresh decline below the $26,500 and $26,200 levels. The price is trading below $26,600 and the 100 hourly Simple moving average. There is a key [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":145511,"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-145510","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\/145510","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=145510"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/145510\/revisions"}],"predecessor-version":[{"id":145512,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/145510\/revisions\/145512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/145511"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=145510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=145510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=145510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}