{"id":153357,"date":"2023-09-11T09:10:36","date_gmt":"2023-09-11T03:40:36","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=153357"},"modified":"2023-09-11T09:10:36","modified_gmt":"2023-09-11T03:40:36","slug":"bitcoin-price-key-indicators-suggest-a-strengthening-case-for-bearish-break-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-key-indicators-suggest-a-strengthening-case-for-bearish-break-crypto-news\/","title":{"rendered":"Bitcoin Price Key Indicators Suggest A Strengthening Case For Bearish Break &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is struggling to recover above $26,500. BTC is clearly struggling and there is a risk of a downside break in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is facing a lot of hurdles above the $26,200 resistance zone.<\/li>\n<li>The price is trading well below $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could take a major hit if there is a close below $25,350.<\/li>\n<\/ul>\n<h2>Bitcoin Price Remains At Risk<\/h2>\n<p>Bitcoin price remained in a bearish zone and all attempts to start a decent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-26000\/\">recovery failed<\/a>. BTC peaked near $26,500 and started a fresh decline.<\/p>\n<p>There was a close below the $26,000 pivot level. The price even spiked below $25,650. A base seems to be forming near the $25,600 level but upsides are still capped. The price is consolidating below the 23.6% Fib retracement level of the downward move from the $26,487 swing high to the $25,650 low.<\/p>\n<p>Bitcoin is also trading well below $26,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-struggle-26200\/\">100 hourly Simple moving average<\/a>. Besides, there is a key bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is near the $25,800 level. The first major resistance is near the $26,050 level or the 50% Fib retracement level of the downward move from the $26,487 swing high to the $25,650 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 key resistance is near $26,200. A proper close above the $26,200 level might start a decent increase. The next major resistance is near $26,500, above which the bulls could gain strength. In the stated case, the price could test the $27,000 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,200 resistance, it could continue to move down. Immediate support on the downside is near the $25,600 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 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 $25,600, followed by $25,350.<\/p>\n<p>Major Resistance Levels \u2013 $25,800, $26,050, and $26.200.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to recover above $26,500. BTC is clearly struggling and there is a risk of a downside break in the near term. Bitcoin is facing a lot of hurdles above the $26,200 resistance zone. The price is trading well below $26,000 and the 100 hourly Simple moving average. There is a key [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":128598,"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-153357","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\/153357","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=153357"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153357\/revisions"}],"predecessor-version":[{"id":153358,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/153357\/revisions\/153358"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/128598"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=153357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=153357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=153357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}