{"id":157724,"date":"2023-09-18T08:59:27","date_gmt":"2023-09-18T03:29:27","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=157724"},"modified":"2023-09-18T08:59:27","modified_gmt":"2023-09-18T03:29:27","slug":"bitcoin-price-holds-strong-at-100-sma-a-strengthening-case-for-upside-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-holds-strong-at-100-sma-a-strengthening-case-for-upside-crypto-news\/","title":{"rendered":"Bitcoin Price Holds Strong At 100 SMA \u2013 A Strengthening Case For Upside &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price is holding the $26,400 support zone. BTC could gain bullish momentum if there is a close above the $27,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin is holding gains above the $26,200 support level.<\/li>\n<li>The price is trading above $26,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a steady increase if it settles above $26,850 and then $27,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Ground<\/h2>\n<p>Bitcoin price started a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-keep-pushing-26850\/\">decent increase<\/a> above the $26,200 resistance zone. BTC even climbed above the $26,800 level but failed to stay in the positive zone.<\/p>\n<p>There was a minor downside correction below $26,550. The price traded as low as $26,412 and is currently attempting a fresh increase. There was a move above the 50% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low.<\/p>\n<p>Bitcoin price is now trading above $26,500 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-rally-above-26500\/\">100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $26,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is near the $26,700 level or the 61.8% Fib retracement level of the downward move from the $26,887 swing high to the $26,412 low. The first major resistance is near the $26,850 level. The next key resistance could be near the $27,000 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>A successful close above the $26,850 resistance and $27,200 could spark another bullish wave. The next major resistance is near $27,500, above which the bulls could gain strength. In the stated case, the price could test the $28,500 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to start a fresh increase above the $26,850 resistance, it could react to the downside. Immediate support on the downside is near the $26,500 level and the trend line.<\/p>\n<p>The next major support is near the $26,200 level. A downside break and close below the $26,200 level might send the price toward the next support at $25,650.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining 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 $26,500, followed by $26,200.<\/p>\n<p>Major Resistance Levels \u2013 $26,700, $26,850, and $27,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is holding the $26,400 support zone. BTC could gain bullish momentum if there is a close above the $27,000 resistance zone. Bitcoin is holding gains above the $26,200 support level. The price is trading above $26,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":25224,"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-157724","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\/157724","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=157724"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157724\/revisions"}],"predecessor-version":[{"id":157725,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/157724\/revisions\/157725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/25224"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=157724"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=157724"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=157724"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}