{"id":162398,"date":"2023-09-25T18:24:53","date_gmt":"2023-09-25T12:54:53","guid":{"rendered":"https:\/\/dripp.zone\/news\/bitcoin-price-prediction-hangs-onto-26000-support-crypto-news\/"},"modified":"2023-09-25T18:24:55","modified_gmt":"2023-09-25T12:54:55","slug":"bitcoin-price-prediction-hangs-onto-26000-support-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-prediction-hangs-onto-26000-support-crypto-news\/","title":{"rendered":"Bitcoin Price Prediction: Hangs Onto $26,000 Support – Crypto News"},"content":{"rendered":"

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A sideways trend has taken over the crypto market, especially for prominent cryptos like Bitcoin (BTC) and\u00a0Ethereum (ETH)<\/a>.<\/p>\n

Following last week\u2019s rejection from highs above $25,000,\u00a0Bitcoin price has struggled to stay above $26,000 support<\/a>. This relatively trendless market can be attributed to the lack of liquidity and disinterest from retail investors who fear having to capitulate if declines rally below $25,000 support.<\/p>\n

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The Bullish Outlook In Bitcoin Price<\/h2>\n

The daily chart shows the formation of a rectangle pattern likely to validate a bullish breakout to $37,746. However, with the market structure still weak, another minor deep to confirm support of $25,000 and collect liquidity is required before the rectangle breakout.<\/p>\n

The 200-week Exponential Moving Average (EMA) (purple) is in line at $56,606 to absorb most of the selling pressure and limit the need for\u00a0Bitcoin price<\/a>\u00a0to stretch the down leg lower below $25,000.<\/p>\n