{"id":155619,"date":"2023-09-14T09:24:01","date_gmt":"2023-09-14T03:54:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=155619"},"modified":"2023-09-14T09:24:01","modified_gmt":"2023-09-14T03:54:01","slug":"bitcoin-price-is-primed-for-rally-and-only-1-thing-is-holding-it-back-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-is-primed-for-rally-and-only-1-thing-is-holding-it-back-crypto-news\/","title":{"rendered":"Bitcoin Price Is Primed For Rally And Only 1 Thing is Holding it Back &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is moving higher above the $26,200 resistance. BTC could gain bullish momentum if there is a daily close above the $26,500 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is showing a few positive signs above the $26,200 level.<\/li>\n<li>The price is trading above $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support near $26,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh rally if there is a close above $26,500 and then a move above $27,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Upside Break<\/h2>\n<p>Bitcoin price remained well-bid above the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-formation-26500\/\">$25,500 support zone<\/a>. BTC formed a base and recently started a fresh increase above the $26,000 resistance zone.<\/p>\n<p>There was a sharp spike above the $26,500 resistance zone. However, there was no close above the $26,500 resistance zone. The price traded as high as $27,212 and there was a nasty bearish reaction. The price reversed its gains and traded below the $26,650 level.<\/p>\n<p>There was a move below the 23.6% Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high. Bitcoin is now trading above $26,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-25600\/\">100 hourly Simple moving average<\/a>.<\/p>\n<p>Besides, there is a connecting bullish trend line forming with support near $26,050 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $26,500 level. The first major resistance is near the $26,650 level.<\/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 could be near the $27,200 level. A proper close above the $26,500 level and then a break above $27,200 might start a decent increase. The next major resistance is near $28,000, above which the bulls could gain strength. In the stated case, the price could test the $28,800 level.<\/p>\n<h2>Fresh Drop In BTC?<\/h2>\n<p>If Bitcoin fails to start a fresh increase above the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,050 level and the trend line.<\/p>\n<p>The next major support is near the $25,800 level or the 61.8% Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high. A downside break and close below the $25,800 level might send the price toward the key support at $25,550.<\/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 $26,050, followed by $25,800.<\/p>\n<p>Major Resistance Levels \u2013 $26,500, $26,650, and $27,200.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is moving higher above the $26,200 resistance. BTC could gain bullish momentum if there is a daily close above the $26,500 resistance. Bitcoin is showing a few positive signs above the $26,200 level. The price is trading above $26,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":29884,"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-155619","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\/155619","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=155619"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155619\/revisions"}],"predecessor-version":[{"id":155620,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/155619\/revisions\/155620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/29884"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=155619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=155619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=155619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}