BTCUSD on TradingView.com<\/a><\/p>\nIn the stated case, the price could test the $29,200 level. Any more gains might set the pace for a larger increase toward $30,500.<\/p>\n
What\u2019s Key Support In BTC?<\/h2>\n If Bitcoin fails to clear the $27,400 resistance, it could continue to move down. Immediate support on the downside is near the $27,000 level.<\/p>\n
The next major support is near the $26,800 level or the 61.8% Fib retracement level of the key increase from the $25,928 swing low to the $28,150 high. A downside break below the $26,700 level might put a lot of pressure on the bulls. In the stated case, the price could drop toward $26,000.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n
Major Support Levels \u2013 $27,000, followed by $26,700.<\/p>\n
Major Resistance Levels \u2013 $27,400, $28,000, and $28,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is correcting gains from $28,000. BTC could correct further lower toward the $26,800 zone before the bulls take a stand. Bitcoin started a downside correction from the $28,150 resistance zone. The price is trading above $26,600 and the 100 hourly Simple moving average. There is a declining channel forming with resistance near $27,250 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could extend its decline toward $26,800 before it attempts a fresh increase. Bitcoin Price Starts Downside Correction Bitcoin price started a decent increase above the $27,000 resistance zone. BTC even climbed toward the $28,000 resistance zone before the bears appeared. A high was formed near $28,150 and the price started a downside correction. There was a move below the $28,000 and $27,500 levels. The price even spiked below the $27,400 level. However, it found support near the 50% Fib retracement level of the key increase from the $25,928 swing low to the $28,150 high. Bitcoin is still trading above $26,600 and the 100 hourly Simple moving average. Besides, there is a declining channel forming with resistance near $27,250 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $27,200 level and the channel trend line. The first major resistance is near the $27,400 level. A clear move above the $27,400 level might send the price toward $28,000. The next major resistance is near $28,150, above which there could be a sustained increase. Source: BTCUSD on TradingView.com In the stated case, the price could test the $29,200 level. Any more gains might set the pace for a larger increase toward $30,500. What\u2019s Key Support In BTC? If Bitcoin fails to clear the $27,400 resistance, it could continue to move down. Immediate support on the downside is near the $27,000 level. The next major support is near the $26,800 level or the 61.8% Fib retracement level of the key increase from the $25,928 swing low to the $28,150 high. A downside break below the $26,700 level might put a lot of pressure on the bulls. In the stated case, the price could drop toward $26,000. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level. Major Support Levels \u2013 $27,000, followed by $26,700. Major Resistance Levels \u2013 $27,400, $28,000, and $28,500.<\/p>\n","protected":false},"author":67,"featured_media":464159,"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-549501","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
Bitcoin Price Could Correct Further Before Fresh Increase To $28K<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n