{"id":154866,"date":"2023-09-13T09:11:01","date_gmt":"2023-09-13T03:41:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154866"},"modified":"2023-09-13T09:11:01","modified_gmt":"2023-09-13T03:41:01","slug":"bitcoin-price-signals-another-bearish-formation-and-could-revisit-25k-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-signals-another-bearish-formation-and-could-revisit-25k-crypto-news\/","title":{"rendered":"Bitcoin Price Signals Another Bearish Formation and Could Revisit $25K &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price struggled again near the $26,500 resistance. BTC is forming a double-top pattern and could revisit the $25,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin recovered above $26,000 but struggled to clear $26,500.<\/li>\n<li>The price is trading above $25,800 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term contracting triangle forming 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 another decline if it breaks the $25,550 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Uphill Task<\/h2>\n<p>Bitcoin price started a decent increase above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-25600\/\">$26,000 resistance zone<\/a>. BTC climbed above the $26,200 resistance level but the bears were again active near the $26,500 resistance.<\/p>\n<p>The price failed to settle above the $26,500 resistance level. A high was formed near $26,528 and the price started a downside correction. It seems like there is a double-top pattern forming near the $26,500 zone. The price is now trading below the 23.6% Fib retracement level of the upward move from the $24,925 swing low to the $26,528 high.<\/p>\n<p>However, Bitcoin is now trading above $25,800 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-break-risk-25350\/\">100 hourly Simple moving average<\/a>. Besides, there is a short-term contracting triangle forming with resistance near $26,000 on the hourly chart of the BTC\/USD pair.<\/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>Immediate resistance on the upside is near the $26,000 level. The first major resistance is near the $26,200 level. The main resistance is near the $26,500 level. A proper close above the $26,500 level might start a decent increase. The next major resistance is near $27,200, above which the bulls could gain strength. In the stated case, the price could test the $28,000 level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to start a fresh increase above the $26,000 resistance, it could continue to move down. Immediate support on the downside is near the $25,800 level.<\/p>\n<p>The next major support is near the $25,550 level or the 61.8% Fib retracement level of the upward move from the $24,925 swing low to the $26,528 high. A downside break and close below the $25,550 level might call for more downsides. In the stated case, the price could drop toward $25,000 or even $24,800.<\/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 near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $25,800, followed by $25,550.<\/p>\n<p>Major Resistance Levels \u2013 $26,000, $26,200, and $26,500.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price struggled again near the $26,500 resistance. BTC is forming a double-top pattern and could revisit the $25,000 support zone. Bitcoin recovered above $26,000 but struggled to clear $26,500. The price is trading above $25,800 and the 100 hourly Simple moving average. There is a short-term contracting triangle forming with resistance near $26,000 on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":154867,"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-154866","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\/154866","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=154866"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154866\/revisions"}],"predecessor-version":[{"id":154868,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154866\/revisions\/154868"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154867"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154866"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154866"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154866"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}