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{"id":548617,"date":"2023-08-24T04:23:39","date_gmt":"2023-08-24T04:23:39","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=548617"},"modified":"2024-06-11T14:28:42","modified_gmt":"2024-06-11T14:28:42","slug":"bitcoin-price-recovery-26500","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoin-price-recovery-26500\/","title":{"rendered":"Bitcoin Price Starts Recovery But Can Bulls Clear This Hurdle?"},"content":{"rendered":"

Bitcoin price started a recovery wave above the $26,250 resistance. BTC could gain bullish momentum if there is a close above the $27,000 resistance.<\/em><\/p>\n

\n
Bitcoin is slowly moving higher above the $26,250 support zone.<\/li>\n
The price is trading above $26,250 and the 100 hourly Simple moving average.<\/li>\n
There is a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could continue to rise if it clears the $27,000 resistance.<\/li>\n<\/ul>\n
Bitcoin Price Recovers<\/h2>\n
Bitcoin price remained well-bid above the $25,800 level. BTC formed a base and started a recovery wave above the $26,050 level<\/a>. The bulls were able to push the price above the $26,250 level.<\/p>\n
There was also a break above the $26,500 resistance. Finally, the price tested the $26,780 zone. A high is formed near $26,779 and the price is now consolidating gains. It is trading just below the 23.6% Fib retracement level of the recent wave from the $25,360 swing low to the $26,779 high.<\/p>\n
Bitcoin is trading above $26,250 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC\/USD pair.<\/p>\n
$\"Bitcoin$ <\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
On the upside, immediate resistance is near the $26,600 level. The first major resistance is now near the $26,780 level, above which the price might rise toward the $27,000 resistance. A close above the $27,000 resistance could start a decent increase toward the $27,500 resistance zone. Any more gains might set the pace for a larger increase toward $28,200.<\/p>\n
Are Dips Supported In BTC?<\/h2>\n
If Bitcoin fails to clear the $26,780 resistance, it could start a downside correction. Immediate support on the downside is near the $26,250 zone and the trend line.<\/p>\n
The next major support is near the $26,050 level or the 50% Fib retracement level of the recent wave from the $25,360 swing low to the $26,779 high. A downside break below the $26,050 level might push the price again into a bearish zone. In the stated case, the price could drop toward $25,550.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $26,250, followed by $26,050.<\/p>\n
Major Resistance Levels \u2013 $26,780, $27,000, and $27,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price started a recovery wave above the $26,250 resistance. BTC could gain bullish momentum if there is a close above the $27,000 resistance. Bitcoin is slowly moving higher above the $26,250 support zone. The price is trading above $26,250 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to rise if it clears the $27,000 resistance. Bitcoin Price Recovers Bitcoin price remained well-bid above the $25,800 level. BTC formed a base and started a recovery wave above the $26,050 level. The bulls were able to push the price above the $26,250 level. There was also a break above the $26,500 resistance. Finally, the price tested the $26,780 zone. A high is formed near $26,779 and the price is now consolidating gains. It is trading just below the 23.6% Fib retracement level of the recent wave from the $25,360 swing low to the $26,779 high. Bitcoin is trading above $26,250 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support near $26,250 on the hourly chart of the BTC\/USD pair. Source: BTCUSD on TradingView.com On the upside, immediate resistance is near the $26,600 level. The first major resistance is now near the $26,780 level, above which the price might rise toward the $27,000 resistance. A close above the $27,000 resistance could start a decent increase toward the $27,500 resistance zone. Any more gains might set the pace for a larger increase toward $28,200. Are Dips Supported In BTC? If Bitcoin fails to clear the $26,780 resistance, it could start a downside correction. Immediate support on the downside is near the $26,250 zone and the trend line. The next major support is near the $26,050 level or the 50% Fib retracement level of the recent wave from the $25,360 swing low to the $26,779 high. A downside break below the $26,050 level might push the price again into a bearish zone. In the stated case, the price could drop toward $25,550. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $26,250, followed by $26,050. Major Resistance Levels \u2013 $26,780, $27,000, and $27,500.<\/p>\n","protected":false},"author":67,"featured_media":464001,"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-548617","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":"\nBitcoin Price Starts Recovery But Can Bulls Clear This Hurdle?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a recovery wave above the $26,250 resistance. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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