{"id":24209,"date":"2023-06-16T05:55:31","date_gmt":"2023-06-16T05:55:31","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/06\/16\/bitcoin-price-aims-26200-but-100-sma-hold-the-key-in-short-term\/"},"modified":"2023-06-16T05:55:31","modified_gmt":"2023-06-16T05:55:31","slug":"bitcoin-price-aims-26200-but-100-sma-hold-the-key-in-short-term","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/06\/16\/bitcoin-price-aims-26200-but-100-sma-hold-the-key-in-short-term\/","title":{"rendered":"Bitcoin Price Aims $26,200 But 100 SMA Hold The Key In Short-Term"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value is trying a restoration wave above the $25,200 resistance. BTC should clear the 100 hourly SMA to proceed increased within the close to time period.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly recovering increased above the $25,200 help.<\/li>\n<li>The value is buying and selling beneath $25,750 and the 100 hourly Simple shifting common.<\/li>\n<li>There is a key bearish development line forming with resistance close to $25,680 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair may rise additional if it clears $25,750 and the 100 hourly Simple shifting common.<\/li>\n<\/ul>\n<h2>Bitcoin Price Attempts Recovery<\/h2>\n<p>Bitcoin value remained in a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-plunges-24k-next\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">bearish zone below the $26,200 resistance zone<\/a>. BTC prolonged its decline beneath the $25,500 help and even spiked beneath $25,000.<\/p>\n<p>A low is fashioned close to $24,751 and the worth is now trying a restoration wave. There was a transparent transfer above the $25,000 and $25,200 resistance ranges. The value climbed above the 50% Fib retracement stage of the downward transfer from the $26,062 swing excessive to the $24,751 low.<\/p>\n<p>Bitcoin value is now buying and selling beneath $25,750 and the 100 hourly Simple shifting common. Besides, there&#8217;s a key bearish development line forming with resistance close to $25,680 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The pair is now going through resistance close to the development line and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-toward-27k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. It is near the 61.8% Fib retracement stage of the downward transfer from the $26,062 swing excessive to the $24,751 low. The subsequent main resistance is close to the $25,750 stage.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-538183\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11.png\" alt=\"Bitcoin Price\" width=\"1835\" height=\"845\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11.png 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11-460x212.png 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11-860x396.png 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11-768x354.png 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11-1536x707.png 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11-750x345.png 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-11-1140x525.png 1140w\" sizes=\"auto, (max-width: 1835px) 100vw, 1835px\"\/><\/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>A transparent transfer above the $25,750 resistance may begin a contemporary enhance. The subsequent main resistance is close to the $26,200 stage, above which the bulls may ship BTC towards the $26,500 resistance zone.<\/p>\n<h2>Fresh Decline in BTC?<\/h2>\n<p>If Bitcoin\u2019s value fails to clear the $25,750 resistance, it may begin one other decline. Immediate help on the draw back is close to the $25,200 stage.<\/p>\n<p>The subsequent main help is close to the $24,820 stage, beneath which the worth may begin one other main decline. In the said case, the worth may drop towards the $24,000 help within the close to time period.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now dropping 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 $25,200, adopted by $24,820.<\/p>\n<p>Major Resistance Levels \u2013 $25,680, $25,750, and $26,200.<\/p>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-aims-26200\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value is trying a restoration wave above the $25,200 resistance. BTC should clear the 100 hourly SMA to proceed increased within the close to time period. Bitcoin is slowly recovering increased above the $25,200 help. The value is buying and selling beneath $25,750 and the 100 hourly Simple shifting common. There is a 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