{"id":555471,"date":"2023-10-16T03:23:30","date_gmt":"2023-10-16T03:23:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=555471"},"modified":"2024-06-11T14:30:08","modified_gmt":"2024-06-11T14:30:08","slug":"bitcoin-price-correction-27500-2","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-correction-27500-2\/","title":{"rendered":"Bitcoin Price Hints At Potential Correction, But Can BTC Clear This Hurdle?"},"content":{"rendered":"<p><em>Bitcoin price started an upside correction from the $26,550 zone. BTC is rising and facing a strong resistance near the $27,300 and $27,500 levels.<\/em><\/p>\n<ul>\n<li>Bitcoin managed to recover above the $27,000 resistance zone.<\/li>\n<li>The price is trading above $27,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair is showing signs of a recovery, but it could struggle near $27,300 and $27,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Attempts Fresh Recovery<\/h2>\n<p>Bitcoin price found <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-holds-ground-26500\/\" target=\"_blank\" rel=\"noopener \">support near the $26,550 level<\/a>. BTC bears attempted to clear $26,550, but they failed. As a result, the price started an upside correction above the $26,800 resistance.<\/p>\n<p>There was a move above the 23.6% Fib retracement level of the downward move from the $28,285 swing high to the $26,550 low. Besides, there was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin is now trading above $27,000 and the 100 hourly Simple moving average. It seems like the price is facing a strong resistance near the $27,300 level.<\/p>\n<p>The <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-bears-turns-the-tide-26500\/\" target=\"_blank\" rel=\"noopener \">next key resistance could be near $27,500<\/a> or the 61.8% Fib retracement level of the downward move from the $28,285 swing high to the $26,550 low. A clear move above the $27,500 and $27,650 resistance levels could set the pace for a larger increase.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-555472\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/Bitcoin-10.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/10\/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 key resistance could be $28,000. A close above the $28,000 resistance might start a steady increase toward the $28,500 level. Any more gains might send BTC toward the $29,200 level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to recover higher above the $27,500 resistance, there could be a fresh decline. Immediate support on the downside is near the $27,000 level and the trend line zone.<\/p>\n<p>The next major support is near the $26,900 level and the 100 hourly Simple moving average. A downside break and close below the $26,900 support might send the price further lower. The next support sits at $26,550.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $27,000, followed by $26,900.<\/p>\n<p>Major Resistance Levels \u2013 $27,300, $27,500, and $27,650.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started an upside correction from the $26,550 zone. BTC is rising and facing a strong resistance near the $27,300 and $27,500 levels. Bitcoin managed to recover above the $27,000 resistance zone. The price is trading above $27,000 and the 100 hourly Simple moving average. There was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair is showing signs of a recovery, but it could struggle near $27,300 and $27,500. Bitcoin Price Attempts Fresh Recovery Bitcoin price found support near the $26,550 level. BTC bears attempted to clear $26,550, but they failed. As a result, the price started an upside correction above the $26,800 resistance. There was a move above the 23.6% Fib retracement level of the downward move from the $28,285 swing high to the $26,550 low. Besides, there was a break above a major bearish trend line with resistance near $27,000 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $27,000 and the 100 hourly Simple moving average. It seems like the price is facing a strong resistance near the $27,300 level. The next key resistance could be near $27,500 or the 61.8% Fib retracement level of the downward move from the $28,285 swing high to the $26,550 low. A clear move above the $27,500 and $27,650 resistance levels could set the pace for a larger increase. Source: BTCUSD on TradingView.com The next key resistance could be $28,000. A close above the $28,000 resistance might start a steady increase toward the $28,500 level. Any more gains might send BTC toward the $29,200 level. Another Decline In BTC? If Bitcoin fails to recover higher above the $27,500 resistance, there could be a fresh decline. Immediate support on the downside is near the $27,000 level and the trend line zone. The next major support is near the $26,900 level and the 100 hourly Simple moving average. A downside break and close below the $26,900 support might send the price further lower. The next support sits at $26,550. 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 above the 50 level. Major Support Levels \u2013 $27,000, followed by $26,900. Major Resistance Levels \u2013 $27,300, $27,500, and $27,650.<\/p>\n","protected":false},"author":67,"featured_media":460413,"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-555471","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 Hints At Potential Correction, But Can BTC Clear This Hurdle?<\/title>\n<meta name=\"description\" content=\"Bitcoin price started an upside correction from the $26,550 zone. 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