{"id":521258,"date":"2023-02-28T03:18:28","date_gmt":"2023-02-28T03:18:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=521258"},"modified":"2024-06-11T14:32:54","modified_gmt":"2024-06-11T14:32:54","slug":"bitcoin-price-recovery-fade-24k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-recovery-fade-24k\/","title":{"rendered":"Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $24K"},"content":{"rendered":"<p><em>Bitcoin price is struggling to clear the $23,650 resistance. BTC must clear the $24,000 resistance to move into a positive zone in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to gain pace for a move above the $23,600 resistance zone.<\/li>\n<li>The price is trading above $23,200 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a key rising channel with support near $23,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could resume its decline if it stays below the $23,650 and $24,000 resistance levels.<\/li>\n<\/ul>\n<h2>Bitcoin Price Keeps Struggling<\/h2>\n<p>Bitcoin price started a <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-aims-upside-break-24k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">recovery wave from the $22,750 support zone<\/a>. BTC formed a base and started a decent increase above the $23,200 resistance zone.<\/p>\n<p>There was a move above the $23,600 resistance and the 100 hourly simple moving average. However, the bears were active below the $24,000 resistance zone. A high was formed near $23,885 before the price started a fresh decline.<\/p>\n<p>There was a move below the $23,600 zone. Besides, there was a break below a key rising channel with support near $23,450 on the hourly chart of the BTC\/USD pair. There was a spike below the 50% Fib retracement level of the upward move from the $22,739 swing low to $23,885 high.<\/p>\n<p>Bitcoin price is now trading above $23,200 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-recovery-fade-24500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. It is stab above the 61.8% Fib retracement level of the upward move from the $22,739 swing low to $23,885 high.<\/p>\n<p>An immediate resistance is near the $23,650 zone. The first major resistance is still near the $23,850 and $24,000 levels. A clear move above the $24,000 resistance might start a decent increase towards the $24,600 resistance zone.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-521259\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?w=1834 1834w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin-19.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The next key resistance is still near the $25,000 zone. A close above the $25,000 resistance could push the price in a bullish zone. In the stated case, the price may perhaps rise towards the $25,800 level.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $23,650 resistance, it could continue to move down. An immediate support on the downside is near the $23,200 zone.<\/p>\n<p>The next major support is near the $22,800 zone. If there is a downside break, the price might decline towards $22,200. The next major support is near the $22,000 level.<\/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 above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $23,200, followed by $22,800.<\/p>\n<p>Major Resistance Levels \u2013 $23,650, $24,000 and $24,600.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to clear the $23,650 resistance. BTC must clear the $24,000 resistance to move into a positive zone in the near term. Bitcoin is struggling to gain pace for a move above the $23,600 resistance zone. The price is trading above $23,200 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $23,450 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could resume its decline if it stays below the $23,650 and $24,000 resistance levels. Bitcoin Price Keeps Struggling Bitcoin price started a recovery wave from the $22,750 support zone. BTC formed a base and started a decent increase above the $23,200 resistance zone. There was a move above the $23,600 resistance and the 100 hourly simple moving average. However, the bears were active below the $24,000 resistance zone. A high was formed near $23,885 before the price started a fresh decline. There was a move below the $23,600 zone. Besides, there was a break below a key rising channel with support near $23,450 on the hourly chart of the BTC\/USD pair. There was a spike below the 50% Fib retracement level of the upward move from the $22,739 swing low to $23,885 high. Bitcoin price is now trading above $23,200 and the 100 hourly simple moving average. It is stab above the 61.8% Fib retracement level of the upward move from the $22,739 swing low to $23,885 high. An immediate resistance is near the $23,650 zone. The first major resistance is still near the $23,850 and $24,000 levels. A clear move above the $24,000 resistance might start a decent increase towards the $24,600 resistance zone. Source: BTCUSD on TradingView.com The next key resistance is still near the $25,000 zone. A close above the $25,000 resistance could push the price in a bullish zone. In the stated case, the price may perhaps rise towards the $25,800 level. Fresh Decline in BTC? If bitcoin price fails to clear the $23,650 resistance, it could continue to move down. An immediate support on the downside is near the $23,200 zone. The next major support is near the $22,800 zone. If there is a downside break, the price might decline towards $22,200. The next major support is near the $22,000 level. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $23,200, followed by $22,800. Major Resistance Levels \u2013 $23,650, $24,000 and $24,600.<\/p>\n","protected":false},"author":67,"featured_media":459029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-521258","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass $24K<\/title>\n<meta name=\"description\" content=\"Bitcoin price is struggling to clear the $23,650 resistance. 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