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{"id":552425,"date":"2023-09-22T03:13:38","date_gmt":"2023-09-22T03:13:38","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=552425"},"modified":"2024-06-11T14:29:31","modified_gmt":"2024-06-11T14:29:31","slug":"bitcoin-price-correction-26350","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/bitcoin-price-correction-26350\/","title":{"rendered":"Bitcoin Price Hints At Potential Correction, Buy The Dip?"},"content":{"rendered":"

Bitcoin price is again moving lower from the $27,500 resistance. BTC could extend its decline and revisit the $25,400 support zone.<\/em><\/p>\n

\n
Bitcoin started a downside correction after it failed to clear the $27,500 resistance.<\/li>\n
The price is trading below $27,000 and the 100 hourly Simple moving average.<\/li>\n
There was a break below a major bullish trend line with support near $26,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair is now at a risk of more downsides below the $26,350 level.<\/li>\n<\/ul>\n
Bitcoin Price Revisits Support<\/h2>\n
Bitcoin price started a downside correction after it failed to clear the $27,500 resistance<\/a>. BTC traded below the $27,000 and $26,800 support levels to enter a bearish zone.<\/p>\n
Besides, there was a break below a major bullish trend line with support near $26,800 on the hourly chart of the BTC\/USD pair. The pair retested the $26,350 support zone and is currently consolidating losses. It is trading near the 23.6% Fib retracement level of the recent decline from the $27,494 swing high to the $26,358 low.<\/p>\n
Bitcoin is now trading below $27,000 and the 100 hourly Simple moving average<\/a>. Immediate resistance on the upside is near the $26,800 level. The first major resistance is near the $27,000 zone, a connecting bearish trend line, and the 50% Fib retracement level of the recent decline from the $27,494 swing high to the $26,358 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next key resistance could be near the $27,050 level, above which the price could gain bullish momentum. In the stated case, the price could even rise toward the $27,500 resistance. Any more gains might call for a move toward the $28,800 level in the coming days.<\/p>\n
More Losses In BTC?<\/h2>\n
If Bitcoin fails to start a fresh increase above the $27,000 resistance, it could continue to move down. Immediate support on the downside is near the $26,350 level.<\/p>\n
The next major support is near the $26,200 level. A downside break and close below the $26,200 level might spark more bearish moves and the price could decline toward the next support at $25,400.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n
Major Support Levels \u2013 $26,350, followed by $26,200.<\/p>\n
Major Resistance Levels \u2013 $27,000, $27,050, and $27,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is again moving lower from the $27,500 resistance. BTC could extend its decline and revisit the $25,400 support zone. Bitcoin started a downside correction after it failed to clear the $27,500 resistance. The price is trading below $27,000 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with support near $26,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is now at a risk of more downsides below the $26,350 level. Bitcoin Price Revisits Support Bitcoin price started a downside correction after it failed to clear the $27,500 resistance. BTC traded below the $27,000 and $26,800 support levels to enter a bearish zone. Besides, there was a break below a major bullish trend line with support near $26,800 on the hourly chart of the BTC\/USD pair. The pair retested the $26,350 support zone and is currently consolidating losses. It is trading near the 23.6% Fib retracement level of the recent decline from the $27,494 swing high to the $26,358 low. Bitcoin is now trading below $27,000 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $26,800 level. The first major resistance is near the $27,000 zone, a connecting bearish trend line, and the 50% Fib retracement level of the recent decline from the $27,494 swing high to the $26,358 low. Source: BTCUSD on TradingView.com The next key resistance could be near the $27,050 level, above which the price could gain bullish momentum. In the stated case, the price could even rise toward the $27,500 resistance. Any more gains might call for a move toward the $28,800 level in the coming days. More Losses In BTC? If Bitcoin fails to start a fresh increase above the $27,000 resistance, it could continue to move down. Immediate support on the downside is near the $26,350 level. The next major support is near the $26,200 level. A downside break and close below the $26,200 level might spark more bearish moves and the price could decline toward the next support at $25,400. 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 below the 50 level. Major Support Levels \u2013 $26,350, followed by $26,200. Major Resistance Levels \u2013 $27,000, $27,050, and $27,500.<\/p>\n","protected":false},"author":67,"featured_media":463152,"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-552425","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 Hints At Potential Correction, Buy The Dip?<\/title>\n<meta name=\"description\" content=\"Bitcoin price is again moving lower from the $27,500 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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