{"id":20797,"date":"2023-04-21T19:29:19","date_gmt":"2023-04-21T19:29:19","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/04\/21\/bitcoin-price-prints-bearish-technical-pattern-why-it-could-revisit-27-2k\/"},"modified":"2023-04-21T19:29:20","modified_gmt":"2023-04-21T19:29:20","slug":"bitcoin-price-prints-bearish-technical-pattern-why-it-could-revisit-27-2k","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/04\/21\/bitcoin-price-prints-bearish-technical-pattern-why-it-could-revisit-27-2k\/","title":{"rendered":"Bitcoin Price Prints Bearish Technical Pattern, Why It Could Revisit $27.2K"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth is transferring decrease beneath $29,000. BTC may lengthen losses beneath $28,000 and revisit the $27,200 assist zone within the close to time period.<\/em><\/p>\n<ul>\n<li>Bitcoin remained in a bearish zone beneath the $29,500 assist zone.<\/li>\n<li>The worth is buying and selling beneath $29,000 and the 100 hourly Simple transferring common.<\/li>\n<li>There is a serious bearish development line forming with resistance close to $28,500 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair may proceed to maneuver down if it breaks the $28,000 assist zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Extends Losses<\/h2>\n<p>Bitcoin worth began a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-plunges-below-29k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">fresh decline from the $30,500 resistance zone<\/a>. BTC traded beneath the $30,000 and $29,500 ranges to maneuver right into a short-term bearish zone.<\/p>\n<p>The bears gained energy beneath the $29,000 degree. They had been capable of push the worth towards the $28,000 assist zone. A low is shaped close to $28,009 and the worth is now consolidating losses. Bitcoin worth is now buying and selling properly beneath $29,000 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-regains-strength-30k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>.<\/p>\n<p>Immediate resistance is close to the $28,500 degree. There can be a serious bearish development line forming with resistance close to $28,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The 23.6% Fib retracement degree of the downward transfer from the $30,461 excessive to the $28,009 low can be simply above the development line. The first main resistance is forming close to the $28,800 degree. The subsequent main resistance is close to the $29,250 zone.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13.png\"><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-527869\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/04\/Bitcoin-13-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/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>It is near the 50% Fib retracement degree of the downward transfer from the $30,461 excessive to the $28,009 low. A transfer above the $29,250 resistance would possibly name for a good improve. In the said case, the worth might maybe revisit the $30,000 zone. Any extra beneficial properties may open the doorways for a check of $30,500.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s worth fails to clear the $28,500 resistance, it may proceed to maneuver down. Immediate assist on the draw back is close to the $28,100 degree.<\/p>\n<p>The subsequent main assist is close to the $28,000 zone. A draw back break and shut beneath the $28,000 assist would possibly push the worth towards the $27,400 assist. Any extra losses would possibly push Bitcoin towards $27,200.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now beneath the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $28,000, adopted by $27,200.<\/p>\n<p>Major Resistance Levels \u2013 $28,500, $28,800, and $29,250.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-could-revisit-27-2k\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth is transferring decrease beneath $29,000. BTC may lengthen losses beneath $28,000 and revisit the $27,200 assist zone within the close to time period. Bitcoin remained in a bearish zone beneath the $29,500 assist zone. The worth is buying and selling beneath $29,000 and the 100 hourly Simple transferring common. There is a 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