{"id":149883,"date":"2023-09-05T09:35:49","date_gmt":"2023-09-05T04:05:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149883"},"modified":"2023-09-05T09:35:49","modified_gmt":"2023-09-05T04:05:49","slug":"bitcoin-price-could-see-downside-thrust-before-the-bulls-take-a-stand-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-could-see-downside-thrust-before-the-bulls-take-a-stand-crypto-news\/","title":{"rendered":"Bitcoin Price Could See Downside Thrust Before The Bulls Take A Stand &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is struggling to recover above $26,200. BTC is again moving lower and there could be a sharp decline below $25,500 in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to recover above the $26,200 and $26,500 levels.<\/li>\n<li>The price is trading below $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could accelerate lower below the $25,500 and $25,400 levels in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Resumes Slide<\/h2>\n<p>Bitcoin price attempted a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-fade-26200\/\">recovery wave from the $25,350 zone<\/a>. However, BTC struggled to recover above the $26,200 pivot level and remained in a bearish zone.<\/p>\n<p>The price is again moving lower and trading below the $26,000 level. There are a lot of bearish signs emerging below $26,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-26750\/\">100 hourly Simple moving average<\/a>. Besides, there is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is near the $25,650 level and the trend line. The first major resistance is near the $26,000 level or the 23.6% Fib retracement level of the downward move from the $28,150 swing high to the $25,332 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 next major resistance is now near the $26,200 level. A clear move above the $26,200 level might start a decent recovery wave toward $26,500. The next major resistance is near $27,000, above which there could be a decent increase. In the stated case, the price could test the $27,800 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,000 resistance, it could continue to move down. Immediate support on the downside is near the $25,350 level.<\/p>\n<p>The next major support is near the $25,000 level. A downside break below the $25,000 level might send the price further lower. 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 gaining 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 $25,350, followed by $25,000.<\/p>\n<p>Major Resistance Levels \u2013 $25,650, $26,000, and $26,200.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to recover above $26,200. BTC is again moving lower and there could be a sharp decline below $25,500 in the near term. Bitcoin failed to recover above the $26,200 and $26,500 levels. The price is trading below $26,000 and the 100 hourly Simple moving average. There is a major bearish trend [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":138751,"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-149883","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\/149883","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=149883"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149883\/revisions"}],"predecessor-version":[{"id":149884,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149883\/revisions\/149884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138751"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=149883"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149883"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149883"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}