{"id":27395,"date":"2023-08-24T04:30:07","date_gmt":"2023-08-24T04:30:07","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/08\/24\/bitcoin-price-starts-recovery-but-can-bulls-clear-this-hurdle\/"},"modified":"2023-08-24T04:30:07","modified_gmt":"2023-08-24T04:30:07","slug":"bitcoin-price-starts-recovery-but-can-bulls-clear-this-hurdle","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/08\/24\/bitcoin-price-starts-recovery-but-can-bulls-clear-this-hurdle\/","title":{"rendered":"Bitcoin Price Starts Recovery But Can Bulls Clear This Hurdle?"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth began a restoration wave above the $26,250 resistance. BTC may achieve bullish momentum if there&#8217;s a shut above the $27,000 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is slowly shifting increased above the $26,250 help zone.<\/li>\n<li>The worth is buying and selling above $26,250 and the 100 hourly Simple shifting common.<\/li>\n<li>There is a connecting bullish development line forming with help close to $26,250 on the hourly chart of the BTC\/USD pair (knowledge feed from Kraken).<\/li>\n<li>The pair may proceed to rise if it clears the $27,000 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Recovers<\/h2>\n<p>Bitcoin worth remained well-bid above the $25,800 degree. BTC fashioned a base and began a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-pushing-26500\/\" target=\"_blank\" rel=\"noopener\">recovery wave above the $26,050 level<\/a>. The bulls have been in a position to push the worth above the $26,250 degree.<\/p>\n<p>There was additionally a break above the $26,500 resistance. Finally, the worth examined the $26,780 zone. A excessive is fashioned close to $26,779 and the worth is now consolidating features. It is buying and selling slightly below the 23.6% Fib retracement degree of the current wave from the $25,360 swing low to the $26,779 excessive.<\/p>\n<p>Bitcoin is buying and selling above $26,250 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-26500\/\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. There can also be a connecting bullish development line forming with help close to $26,250 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-548618\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-14.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>On the upside, rapid resistance is close to the $26,600 degree. The first main resistance is now close to the $26,780 degree, above which the worth would possibly rise towards the $27,000 resistance. A detailed above the $27,000 resistance may begin a good enhance towards the $27,500 resistance zone. Any extra features would possibly set the tempo for a bigger enhance towards $28,200.<\/p>\n<h2>Are Dips Supported In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,780 resistance, it may begin a draw back correction. Immediate help on the draw back is close to the $26,250 zone and the development line.<\/p>\n<p>The subsequent main help is close to the $26,050 degree or the 50% Fib retracement degree of the current wave from the $25,360 swing low to the $26,779 excessive. A draw back break beneath the $26,050 degree would possibly push the worth once more right into a bearish zone. In the said case, the worth may drop towards $25,550.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining tempo within the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 degree.<\/p>\n<p>Major Support Levels \u2013 $26,250, adopted by $26,050.<\/p>\n<p>Major Resistance Levels \u2013 $26,780, $27,000, and $27,500.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-26500\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth began a restoration wave above the $26,250 resistance. BTC may achieve bullish momentum if there&#8217;s a shut above the $27,000 resistance. Bitcoin is slowly shifting increased above the $26,250 help zone. The worth is buying and selling above $26,250 and the 100 hourly Simple shifting common. There is a connecting bullish development 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