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Bitcoin worth is holding the $26,400 help zone. BTC might acquire bullish momentum if there’s a shut above the $27,000 resistance zone.

• Bitcoin is holding features above the $26,200 help stage.
• The worth is buying and selling above $26,500 and the 100 hourly Simple shifting common.
• There is a connecting bullish pattern line forming with help close to $26,500 on the hourly chart of the BTC/USD pair (information feed from Kraken).
• The pair might begin a gentle enhance if it settles above $26,850 after which $27,000.

Bitcoin Price Holds Ground

Bitcoin worth began a decent increase above the $26,200 resistance zone. BTC even climbed above the $26,800 stage however failed to remain within the constructive zone.

There was a minor draw back correction beneath $26,550. The worth traded as little as $26,412 and is at the moment making an attempt a contemporary enhance. There was a transfer above the 50% Fib retracement stage of the downward transfer from the $26,887 swing excessive to the $26,412 low.

Bitcoin worth is now buying and selling above $26,500 and the 100 hourly Simple moving average. There can be a connecting bullish pattern line forming with help close to $26,500 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is close to the $26,700 stage or the 61.8% Fib retracement stage of the downward transfer from the $26,887 swing excessive to the $26,412 low. The first main resistance is close to the $26,850 stage. The subsequent key resistance might be close to the $27,000 stage.

Source: BTCUSD on TradingView.com

A profitable shut above the $26,850 resistance and $27,200 might spark one other bullish wave. The subsequent main resistance is close to $27,500, above which the bulls might acquire power. In the acknowledged case, the value might check the $28,500 stage.

Another Drop In BTC?

If Bitcoin fails to begin a contemporary enhance above the $26,850 resistance, it might react to the draw back. Immediate help on the draw back is close to the $26,500 stage and the pattern line.

The subsequent main help is close to the $26,200 stage. A draw back break and shut beneath the $26,200 stage may ship the value towards the subsequent help at $25,650.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 stage.

Major Support Levels – $26,500, adopted by $26,200.

Major Resistance Levels – $26,700, $26,850, and $27,000.