{"id":24028,"date":"2023-06-13T03:28:13","date_gmt":"2023-06-13T03:28:13","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/13\/bitcoin-price-consolidates-why-100-sma-is-the-key-to-fresh-increase\/"},"modified":"2023-06-13T03:28:13","modified_gmt":"2023-06-13T03:28:13","slug":"bitcoin-price-consolidates-why-100-sma-is-the-key-to-fresh-increase","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/13\/bitcoin-price-consolidates-why-100-sma-is-the-key-to-fresh-increase\/","title":{"rendered":"Bitcoin Price Consolidates, Why 100 SMA Is The Key To Fresh Increase"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value is consolidating above the $25,500 help. BTC might begin a contemporary enhance if it settles above the 100 hourly SMA and $26,150.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly transferring greater from the $25,500 help zone.<\/li>\n<li>The value is buying and selling beneath $26,000 and the 100 hourly Simple transferring common.<\/li>\n<li>There was a break above a serious bearish pattern line with resistance close to $25,900 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair might begin a restoration wave if there&#8217;s a transfer above the $26,150 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Recovery<\/h2>\n<p>Bitcoin value shaped a base above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-at-significant-risk-25400\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">$25,400 support zone<\/a>. BTC is now consolidating and slowly transferring greater above the $25,650 stage however it faces many hurdles.<\/p>\n<p>The bulls have been in a position to push the worth above the 50% Fib retracement stage of the current decline from the $26,200 swing excessive to the $25,620 low. Besides, there was a break above a serious bearish pattern line with resistance close to $25,900 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin value is now testing $26,000 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-defies-gravity-26k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. It appears to be going through resistance close to the $26,000 zone or the 61.8% Fib retracement stage of the current decline from the $26,200 swing excessive to the $25,620 low.<\/p>\n<p>The first main resistance is close to the $26,150 stage. A transparent transfer above the $26,150 resistance may begin a contemporary enhance. The subsequent main resistance is close to the $26,500 stage. A detailed above $26,500 may begin a transfer towards the $26,500 resistance zone.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-537600\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8.png\" alt=\"Bitcoin Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8.png 1834w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8-1536x708.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8-750x346.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-8-1140x525.png 1140w\" sizes=\"auto, (max-width: 1834px) 100vw, 1834px\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The subsequent key resistance is close to the $26,800 stage, above which Bitcoin may rise towards the $27,000 resistance. Any extra positive aspects above the $27,000 resistance zone may ship the worth towards the $27,500 resistance zone.<\/p>\n<h2>Another Rejection in BTC?<\/h2>\n<p>If Bitcoin\u2019s value fails to clear the $26,150 resistance, it might begin one other decline. Immediate help on the draw back is close to the $25,575 stage.<\/p>\n<p>The subsequent main help is close to the $25,400 stage, beneath which the worth may achieve bearish momentum. In the said case, the worth might drop towards the $25,000 help within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now shedding tempo within the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $25,575, adopted by $25,500.<\/p>\n<p>Major Resistance Levels \u2013 $26,000, $26,150, and $26,500.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-consolidates-26000\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value is consolidating above the $25,500 help. BTC might begin a contemporary enhance if it settles above the 100 hourly SMA and $26,150. Bitcoin is slowly transferring greater from the $25,500 help zone. The value is buying and selling beneath $26,000 and the 100 hourly Simple transferring common. There was a break above 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