{"id":151956,"date":"2023-09-08T09:02:25","date_gmt":"2023-09-08T03:32:25","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=151956"},"modified":"2023-09-08T09:02:25","modified_gmt":"2023-09-08T03:32:25","slug":"bitcoin-price-attempts-recovery-but-heres-why-its-path-is-fill-with-challenges-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-attempts-recovery-but-heres-why-its-path-is-fill-with-challenges-crypto-news\/","title":{"rendered":"Bitcoin Price Attempts Recovery But Here\u2019s Why Its Path Is Fill With Challenges &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is slowly moving higher above $26,000. BTC is showing signs of recovery but is still struggling to clear the $26,500 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is up 2% and trading above the $26,000 resistance zone.<\/li>\n<li>The price is trading well above $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $25,940 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could struggle to clear the $26,500 and $26,750 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Avoids Downside Break<\/h2>\n<p>Bitcoin price managed to stay above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-struggle-26200\/\">$25,350 support zone<\/a>. BTC bulls protected a major downside break and pushed the price above the $25,850 resistance.<\/p>\n<p>There was a move above the $26,000 resistance zone. Besides, there was a break above a key bearish trend line with resistance near $25,940 on the hourly chart of the BTC\/USD pair. The pair even climbed toward the $26,500 resistance zone where the bears appeared.<\/p>\n<p>A high is formed near $26,487 and the price is now consolidating gains. It traded below the 23.6% Fib retracement level of the recent increase from the $25,609 swing low to the $26,487 high.<\/p>\n<p>Bitcoin is now trading well above $26,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-hold-strong-25500\/\">100 hourly Simple moving average<\/a>. Immediate resistance on the upside is near the $26,400 level. The first major resistance is near the $26,500 level. A proper close above the $26,500 level might start a decent increase.<\/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 could gain strength. In the stated case, the price could test the $28,000 level.<\/p>\n<h2>Are Dips Now Limited In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,500 resistance, it could start a downside correction. Immediate support on the downside is near the $26,100 level.<\/p>\n<p>The next major support is near the $26,000 level or the 50% Fib retracement level of the recent increase from the $25,609 swing low to the $26,487 high. A downside break and close below the $26,000 level might increase selling pressure. In the stated case, the price could drop toward $25,500 or even $25,350.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $26,100, followed by $26,000.<\/p>\n<p>Major Resistance Levels \u2013 $26,400, $26,500, and $27,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is slowly moving higher above $26,000. BTC is showing signs of recovery but is still struggling to clear the $26,500 resistance zone. Bitcoin is up 2% and trading above the $26,000 resistance zone. The price is trading well above $26,000 and the 100 hourly Simple moving average. There was a break above a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":8976,"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-151956","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\/151956","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=151956"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151956\/revisions"}],"predecessor-version":[{"id":151957,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/151956\/revisions\/151957"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8976"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=151956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=151956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=151956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}