{"id":149224,"date":"2023-09-04T09:17:55","date_gmt":"2023-09-04T03:47:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149224"},"modified":"2023-09-04T09:17:55","modified_gmt":"2023-09-04T03:47:55","slug":"bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-100-sma-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-100-sma-crypto-news\/","title":{"rendered":"Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass 100 SMA &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price tested the $25,350 zone and is currently recovering. BTC must clear the $26,200 resistance to start a decent increase in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is attempting a recovery wave from the $25,350 zone.<\/li>\n<li>The price is trading below $26,200 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $26,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a decent increase if it clears $26,200 and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin price remained in a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-26750\/\">bearish zone below the $27,000 resistance zone<\/a>. BTC extended its decline and traded below the $26,000 level. There was also a spike below $25,500 and the price tested $25,350.<\/p>\n<p>A low was formed near $25,333 and the price is now attempting a recovery wave. There was a minor increase above the $25,800 resistance. The price climbed above the 23.6% Fib retracement level of the downward move from the $28,150 swing high to the $25,333 low.<\/p>\n<p>Besides, there was a break above a major bearish trend line with resistance near $26,000 on the hourly chart of the BTC\/USD pair. However, Bitcoin is still trading below $26,200 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance on the upside is near the $26,200 level and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-26500\/\">100 hourly SMA<\/a>. The first major resistance is near the $26,750 level or the 50% Fib retracement level of the downward move from the $28,150 swing high to the $25,333 low.<\/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 main resistance is now forming near the $27,000 level. A clear move above the $27,000 level might send the price toward $27,500. The next major resistance is near $28,000, above which there could be a decent upward move. In the stated case, the price could test the $28,800 level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,200 resistance, it could start another decline. Immediate support on the downside is near the $25,650 level.<\/p>\n<p>The next major support is near the $25,350 level. A downside break below the $25,350 level might send the price further lower. 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 above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $25,650, followed by $25,350.<\/p>\n<p>Major Resistance Levels \u2013 $26,200, $26,750, and $27,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price tested the $25,350 zone and is currently recovering. BTC must clear the $26,200 resistance to start a decent increase in the near term. Bitcoin is attempting a recovery wave from the $25,350 zone. The price is trading below $26,200 and the 100 hourly Simple moving average. There was a break above a major [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":149225,"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-149224","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\/149224","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=149224"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149224\/revisions"}],"predecessor-version":[{"id":149226,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149224\/revisions\/149226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/149225"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=149224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}