Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
- Bitcoin price is correcting losses from the $26,000 zone against the US Dollar.
- The price is now trading near $27,000 and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $27,250 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase).
- The pair could start a fresh increase if it clears the $27,250 resistance zone.
Bitcoin price is rising from $26,000 against the US Dollar. BTC might eye another increase if the bulls remain active above the $26,250 zone.
Bitcoin Price Analysis
Bitcoin price started a fresh decline below the $28,000 support zone. There was a clear move below the $27,500 and $27,200 support levels. The pair even tested the $26,000 support zone.
It traded as low as $25,810 and recently started a fresh increase. There was a break above the $26,500 resistance zone. The price gained pace once it broke the $26,800 resistance zone and the 23.6% Fib retracement level of the downward move from the $29,850 swing high to the $25,810 low.
Bitcoin price is now trading near $27,000 and the 55 simple moving average (4 hours). Immediate resistance on the upside is near the $27,200 level. There is also a major bearish trend line forming with resistance near $27,250 on the 4-hour chart of the BTC/USD pair.
The next major resistance might be near the $27,850 zone or the 50% Fib retracement level of the downward move from the $29,850 swing high to the $25,810 low.
A clear move above the trend line and $27,850 might send the price toward $28,500, above which the price might rise toward the $29,200 level. Any more gains might push the price toward the $30,000 zone. If there is no upside break, the price might start a fresh decline below the $26,750 level.
The first major support is near $27,250. The next key support is near the $27,000 level, below which the price might accelerate lower. In the stated case, the price could decline toward the $26,000 level.
Looking at the chart, Bitcoin’s price is trading near $27,000 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $27,250 resistance zone.
Technical Indicators
4 hours MACD – The MACD is now gaining momentum in the bullish zone.
4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Key Support Levels – $26,750 and $27,000.
Key Resistance Levels – $27,250, $27,850, and $28,500.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoAiStream. Web3 Data Intelligence. Knowledge Amplified. Access Here.
- Minting the Future w Adryenn Ashley. Access Here.
- Buy and Sell Shares in PRE-IPO Companies with PREIPO®. Access Here.
- Source: https://www.livebitcoinnews.com/bitcoin-price-analysis-btc-faces-uphill-task-near-27250/
- :is
- $3
- $UP
- 000
- 200
- 23
- 250
- 28
- 50
- 500
- 7
- a
- above
- accelerate
- active
- against
- also
- analysis
- and
- Another
- any
- AS
- At
- average
- BE
- bearish
- below
- Bitcoin
- Bitcoin News
- Bitcoin Price
- Bitcoin Price Analysis
- Bonus
- Break
- Broke
- BTC
- BTC/USD
- Bullish
- Bulls
- case
- Chart
- clear
- coinbase
- COM
- comments
- could
- data
- Decline
- Dollar
- downward
- end
- Even
- eye
- faces
- First
- follow
- fresh
- fresh increase
- from
- gaining
- Gains
- get
- High
- HOURS
- HTTPS
- if
- immediate
- in
- Increase
- index
- internal
- IT
- Key
- Level
- levels
- Line
- live
- Live Bitcoin News
- logo
- losses
- Low
- MACD
- major
- might
- Momentum
- more
- move
- moving
- moving average
- Near
- news
- next
- no
- now
- of
- on
- once
- or
- overall
- Pace
- pair
- plato
- Plato Data Intelligence
- PlatoData
- Post
- price
- Price Analysis
- Push
- recently
- Referral
- referral bonus
- relative strength index
- remain
- Resistance
- retracement
- Rise
- rising
- rsi
- send
- sign
- Simple
- start
- started
- stated
- strength
- support
- support levels
- Swing
- TAG
- Task
- The
- There.
- to
- toward
- traded
- Trading
- TradingView
- Trend
- Upside
- us
- US Dollar
- was
- which
- with
- Your
- zephyrnet