{"id":151252,"date":"2023-09-07T08:37:59","date_gmt":"2023-09-07T03:07:59","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151252"},"modified":"2023-09-07T08:37:59","modified_gmt":"2023-09-07T03:07:59","slug":"bitcoin-bulls-continues-to-struggle-heres-why-upsides-could-be-limited-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-bulls-continues-to-struggle-heres-why-upsides-could-be-limited-crypto-news\/","title":{"rendered":"Bitcoin Bulls Continues To Struggle, Here\u2019s Why Upsides Could Be Limited &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is still consolidating above $25,500. BTC might attempt an upside correction, but upsides might be limited above the $26,200 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is still trading in a range above the $25,500 support zone.<\/li>\n<li>The price is trading below $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $25,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could attempt to recover but the bears might remain active near $26,200.<\/li>\n<\/ul>\n<h2>Bitcoin Price Stuck In Range<\/h2>\n<p>Bitcoin price made another attempt to clear the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-hold-strong-25500\/\">$26,000 resistance zone<\/a>. However, BTC failed to gain strength for a move above the $26,000 and $26,200 levels.<\/p>\n<p>As a result, there was a fresh bearish reaction and the price declined below the $25,650 level. The bulls managed to protect the $25,350 support and the price climbed back above $25,500. It is now trading below $26,000 and the 100 hourly Simple moving average.<\/p>\n<p>Besides, there is a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-downside-thrust-25000\/\">key bearish trend line<\/a> forming with resistance near $25,950 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $26,000 level and the trend line. It is close to the 23.6% Fib retracement level of the key drop from the $28,150 swing high to the $25,333 low.<\/p>\n<p>The first major resistance is near the $26,200 level. A proper close above the $26,200 level might start an upside correction toward $26,750. It is close to the 50% Fib retracement level of the key drop 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 next major resistance is near $27,000, above which the bulls attempt a steady increase. In the stated case, the price could test the $28,000 level.<\/p>\n<h2>Another Drop 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 $25,500 level.<\/p>\n<p>The next major support is near the $25,350 level. A downside break and close below the $25,350 level might increase selling pressure. In the stated case, the price could drop toward $24,500 or even $24,000.<\/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 above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $25,500, followed by $25,350.<\/p>\n<p>Major Resistance Levels \u2013 $25,950, $26,000, and $26,200.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is still consolidating above $25,500. BTC might attempt an upside correction, but upsides might be limited above the $26,200 resistance. Bitcoin is still trading in a range above the $25,500 support zone. The price is trading below $26,000 and the 100 hourly Simple moving average. There is a key bearish trend line forming [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":151253,"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-151252","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\/151252","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=151252"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151252\/revisions"}],"predecessor-version":[{"id":151254,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151252\/revisions\/151254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/151253"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}