{"id":523122,"date":"2023-03-15T03:22:11","date_gmt":"2023-03-15T03:22:11","guid":{"rendered":"https:\/\/ktsl888.com\/?p=523122"},"modified":"2024-06-11T08:03:48","modified_gmt":"2024-06-11T08:03:48","slug":"bitcoin-price-corrects-sharply-24k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-corrects-sharply-24k\/","title":{"rendered":"Bitcoin Price Corrects Sharply But This Support Might Spark Another Increase"},"content":{"rendered":"<p><em>Bitcoin price rallied and even spiked above the $26,000 resistance. BTC corrected lower, but the bulls are active above the $24,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a strong increase above the $24,500 resistance zone.<\/li>\n<li>The price is trading above $24,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase if it stays above the $24,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Rejects $26.5K<\/h2>\n<p>Bitcoin price started a strong increase above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rally-24k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">$24,000 resistance zone<\/a>. BTC even surpassed the $25,000 resistance to move further into a positive zone.<\/p>\n<p>Finally, the price spiked above the $26,000 and $26,200 resistance levels. A high was formed near $26,526 before there was a sharp downside correction. The price declined heavily below the $26,000 and $25,500 levels. It traded close to the $24,000 support zone.<\/p>\n<p>A low is formed near $24,051 and the price is now rising. Bitcoin price is trading above $24,000 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rallies-10-22k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>An immediate resistance is near the $25,300 level. It is near the 50% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-523123\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png?resize=1834%2C845\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png?w=1834 1834w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Bitcoin-10.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 major resistance is near the $25,600 zone. It is near the 61.8% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low. A close above the $25,600 resistance might start a fresh increase towards the $26,000 resistance. The next key resistance is near the $26,500 zone, above which the price might gain bullish momentum and test $27,500.<\/p>\n<h2>Dips Limited in BTC?<\/h2>\n<p>If bitcoin price fails to clear the $25,300 resistance, it could start another decline. An immediate support on the downside is near the $24,750 zone and the trend line.<\/p>\n<p>The next major support is near the $24,000 zone, below which the price gain bearish momentum. The next major support is near the $23,200 level. Any more losses might send the price towards the $22,500 level and the 100 hourly simple moving average.<\/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 $24,750, followed by $24,000.<\/p>\n<p>Major Resistance Levels \u2013 $25,300, $25,600 and $26,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price rallied and even spiked above the $26,000 resistance. BTC corrected lower, but the bulls are active above the $24,000 support zone. Bitcoin started a strong increase above the $24,500 resistance zone. The price is trading above $24,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $24,000 support zone. Bitcoin Price Rejects $26.5K Bitcoin price started a strong increase above the $24,000 resistance zone. BTC even surpassed the $25,000 resistance to move further into a positive zone. Finally, the price spiked above the $26,000 and $26,200 resistance levels. A high was formed near $26,526 before there was a sharp downside correction. The price declined heavily below the $26,000 and $25,500 levels. It traded close to the $24,000 support zone. A low is formed near $24,051 and the price is now rising. Bitcoin price is trading above $24,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair. An immediate resistance is near the $25,300 level. It is near the 50% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low. Source: BTCUSD on TradingView.com The next major resistance is near the $25,600 zone. It is near the 61.8% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low. A close above the $25,600 resistance might start a fresh increase towards the $26,000 resistance. The next key resistance is near the $26,500 zone, above which the price might gain bullish momentum and test $27,500. Dips Limited in BTC? If bitcoin price fails to clear the $25,300 resistance, it could start another decline. An immediate support on the downside is near the $24,750 zone and the trend line. The next major support is near the $24,000 zone, below which the price gain bearish momentum. The next major support is near the $23,200 level. Any more losses might send the price towards the $22,500 level and the 100 hourly simple moving average. 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 $24,750, followed by $24,000. Major Resistance Levels \u2013 $25,300, $25,600 and $26,200.<\/p>\n","protected":false},"author":67,"featured_media":458642,"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-523122","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 Corrects Sharply But This Support Might Spark Another Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin price rallied and even spiked above the $26,000 resistance. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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