{"id":535981,"date":"2023-06-01T03:04:57","date_gmt":"2023-06-01T03:04:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=535981"},"modified":"2024-06-11T14:37:10","modified_gmt":"2024-06-11T14:37:10","slug":"bitcoin-price-takes-hit-26550","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-takes-hit-26550\/","title":{"rendered":"Bitcoin Price Takes Hit \u2013 Upsides Turn Attractive To Sellers"},"content":{"rendered":"<p><em>Bitcoin price started a fresh decline below the $27,500 support. BTC is now showing a lot of bearish signs below the $27,400 pivot level.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline and tumbled below the key $27,500 support zone.<\/li>\n<li>The price is trading below $27,550 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $27,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct higher, but upsides might be limited above the $27,500 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Drops Again<\/h2>\n<p>Bitcoin price failed to start a fresh increase above the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-nears-27500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">$28,000 resistance zone<\/a>. BTC started a fresh decline and traded below the key $27,500 support zone.<\/p>\n<p>There was a clear move below the $27,400 level and the 100 hourly Simple moving average. The price even dived below the $27,000 level and traded close to the $26,500 support. A low is formed near $26,571 and the price is now consolidating losses.<\/p>\n<p>Bitcoin price is trading below $27,550 and the <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-correction-27500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. There is also a major bearish trend line forming with resistance near $27,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is near the $26,920 level. It is close to the 50% Fib retracement level of the recent decline from the $27,287 swing high to the $26,571 low. The next major resistance is near the $27,100 level.<\/p>\n<p>The stated resistance is near the 76.4% Fib retracement level of the recent decline from the $27,287 swing high to the $26,571 low. The main resistance is near the $27,500 level.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-535982\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?resize=1950%2C1109\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1109\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?w=1950 1950w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/06\/Bitcoin.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/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>An upside break and close above $27,500 could start a steady increase toward $28,000. If the bulls manage to clear the $28,000 resistance zone might send the price toward the $28,500 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s price fails to clear the $27,100 resistance, it could continue to move down. Immediate support on the downside is near the $26,550 level.<\/p>\n<p>The next major support is near the $26,500 zone, below which the price might gain bearish momentum. In the stated case, the price could drop toward the $26,000 support.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $26,550, followed by $26,500.<\/p>\n<p>Major Resistance Levels \u2013 $27,100, $27,400, and $27,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh decline below the $27,500 support. BTC is now showing a lot of bearish signs below the $27,400 pivot level. Bitcoin started a fresh decline and tumbled below the key $27,500 support zone. The price is trading below $27,550 and the 100 hourly Simple moving average. There is a major bearish trend line forming with resistance near $27,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be limited above the $27,500 resistance. Bitcoin Price Drops Again Bitcoin price failed to start a fresh increase above the $28,000 resistance zone. BTC started a fresh decline and traded below the key $27,500 support zone. There was a clear move below the $27,400 level and the 100 hourly Simple moving average. The price even dived below the $27,000 level and traded close to the $26,500 support. A low is formed near $26,571 and the price is now consolidating losses. Bitcoin price is trading below $27,550 and the 100 hourly Simple moving average. There is also a major bearish trend line forming with resistance near $27,500 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $26,920 level. It is close to the 50% Fib retracement level of the recent decline from the $27,287 swing high to the $26,571 low. The next major resistance is near the $27,100 level. The stated resistance is near the 76.4% Fib retracement level of the recent decline from the $27,287 swing high to the $26,571 low. The main resistance is near the $27,500 level. Source: BTCUSD on TradingView.com An upside break and close above $27,500 could start a steady increase toward $28,000. If the bulls manage to clear the $28,000 resistance zone might send the price toward the $28,500 resistance zone. More Losses in BTC? If Bitcoin\u2019s price fails to clear the $27,100 resistance, it could continue to move down. Immediate support on the downside is near the $26,550 level. The next major support is near the $26,500 zone, below which the price might gain bearish momentum. In the stated case, the price could drop toward the $26,000 support. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level. Major Support Levels \u2013 $26,550, followed by $26,500. Major Resistance Levels \u2013 $27,100, $27,400, 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-535981","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 Takes Hit \u2013 Upsides Turn Attractive To Sellers<\/title>\n<meta name=\"description\" content=\"Bitcoin price started a fresh decline below the $27,500 support. 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