BTCUSD on TradingView.com<\/a><\/p>\nThe main hurdle is still $28,500. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $30,000 resistance.<\/p>\n
More Losses In BTC?<\/h2>\n If Bitcoin fails to recover higher above the $27,000 resistance, there could be more losses. Immediate support on the downside is near the $26,650 level.<\/p>\n
The next major support is near the $26,500 level. A downside break and close below the $26,500 support might send the price further lower. The next support sits at $26,000.<\/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 $26,650, followed by $26,500.<\/p>\n
Major Resistance Levels \u2013 $27,000, $27,400, and $27,500.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price is sliding and trading below $27,000. BTC is still at risk of more downsides below the $26,500 and $26,200 support levels. Bitcoin is moving lower and showing bearish signs below $27,000. The price is trading below $27,000 and the 100 hourly Simple moving average. There are two bearish trend lines forming with resistance near $26,950 and $27,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could continue to move down toward the $26,000 support in the near term. Bitcoin Price Extends Losses Bitcoin price struggled to start a recovery wave above the $27,500 resistance. BTC remained in a bearish zone and declined further below the $27,000 level. There was a drop below the $26,800 level and the price tested the $26,500 support. A low is formed near $26,551 and the price is again attempting a recovery wave. There was a minor increase above the $26,800 level. However, the price is still facing many hurdles. Bitcoin is now trading below $27,000 and the 100 hourly Simple moving average. There are also two bearish trend lines forming with resistance near $26,950 and $27,400 on the hourly chart of the BTC\/USD pair. Immediate resistance is near the $26,950 level and the first trend line. It is close to the 23.6% Fib retracement level of the downward move from the $28,284 swing high to the $26,551 low. The next key resistance could be near the $27,400 level and second the trend line. The second trend line is near the 50% Fib retracement level of the downward move from the $28,284 swing high to the $26,551 low. The first major resistance is $27,500 and the 100 hourly Simple moving average, above which Bitcoin might test $27,800. Source: BTCUSD on TradingView.com The main hurdle is still $28,500. A close above the $28,500 resistance could start another increase. In the stated case, the price could rise toward the $30,000 resistance. More Losses In BTC? If Bitcoin fails to recover higher above the $27,000 resistance, there could be more losses. Immediate support on the downside is near the $26,650 level. The next major support is near the $26,500 level. A downside break and close below the $26,500 support might send the price further lower. The next support sits at $26,000. 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 $26,650, followed by $26,500. Major Resistance Levels \u2013 $27,000, $27,400, and $27,500.<\/p>\n","protected":false},"author":67,"featured_media":462606,"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-555058","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 Bears Turn The Tide As Risk of More Downsides Escalate<\/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