{"id":27940,"date":"2023-09-04T04:13:03","date_gmt":"2023-09-04T04:13:03","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/09\/04\/bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-100-sma\/"},"modified":"2023-09-04T04:13:03","modified_gmt":"2023-09-04T04:13:03","slug":"bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-100-sma","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/09\/04\/bitcoin-price-recovery-could-soon-fade-if-btc-fails-to-surpass-100-sma\/","title":{"rendered":"Bitcoin Price Recovery Could Soon Fade If BTC Fails To Surpass 100 SMA"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin worth examined the $25,350 zone and is at the moment recovering. BTC should clear the $26,200 resistance to begin an honest improve within the close to time period.<\/em><\/p>\n<ul>\n<li>Bitcoin is making an attempt a restoration wave from the $25,350 zone.<\/li>\n<li>The worth is buying and selling beneath $26,200 and the 100 hourly Simple shifting common.<\/li>\n<li>There was a break above a significant bearish pattern line with resistance close to $26,000 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair might begin an honest improve if it clears $26,200 and the 100 hourly SMA.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Hurdles<\/h2>\n<p>Bitcoin worth remained in a <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-26750\/\" target=\"_blank\" rel=\"noopener\">bearish zone below the $27,000 resistance zone<\/a>. BTC prolonged its decline and traded beneath the $26,000 stage. There was additionally a spike beneath $25,500 and the worth examined $25,350.<\/p>\n<p>A low was shaped close to $25,333 and the worth is now making an attempt a restoration wave. There was a minor improve above the $25,800 resistance. The worth climbed above the 23.6% Fib retracement stage of the downward transfer from the $28,150 swing excessive to the $25,333 low.<\/p>\n<p>Besides, there was a break above a significant bearish pattern line with resistance close to $26,000 on the hourly chart of the BTC\/USD pair. However, Bitcoin continues to be buying and selling beneath $26,200 and the 100 hourly Simple shifting common.<\/p>\n<p>Immediate resistance on the upside is close to the $26,200 stage and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-26500\/\" target=\"_blank\" rel=\"noopener\">100 hourly SMA<\/a>. The first main resistance is close to the $26,750 stage or the 50% Fib retracement stage of the downward transfer from the $28,150 swing excessive to the $25,333 low.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-549878\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.png?resize=1024%2C468\" alt=\"Bitcoin Price \" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-1.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>The predominant resistance is now forming close to the $27,000 stage. A transparent transfer above the $27,000 stage may ship the worth towards $27,500. The subsequent main resistance is close to $28,000, above which there may very well be an honest upward transfer. In the acknowledged case, the worth might check the $28,800 stage.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,200 resistance, it might begin one other decline. Immediate help on the draw back is close to the $25,650 stage.<\/p>\n<p>The subsequent main help is close to the $25,350 stage. A draw back break beneath the $25,350 stage may ship the worth additional decrease. In the acknowledged case, the worth might drop towards $24,800.<\/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 now above the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $25,650, adopted by $25,350.<\/p>\n<p>Major Resistance Levels \u2013 $26,200, $26,750, and $27,000.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-fade-26200\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin worth examined the $25,350 zone and is at the moment recovering. BTC should clear the $26,200 resistance to begin an honest improve within the close to time period. Bitcoin is making an attempt a restoration wave from the $25,350 zone. The worth is buying and selling beneath $26,200 and the 100 hourly Simple 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