{"id":29145,"date":"2023-09-25T04:22:13","date_gmt":"2023-09-25T04:22:13","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/09\/25\/bitcoin-price-grinds-lower-and-seems-like-bears-are-not-done-yet\/"},"modified":"2023-09-25T04:22:13","modified_gmt":"2023-09-25T04:22:13","slug":"bitcoin-price-grinds-lower-and-seems-like-bears-are-not-done-yet","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/09\/25\/bitcoin-price-grinds-lower-and-seems-like-bears-are-not-done-yet\/","title":{"rendered":"Bitcoin Price Grinds Lower And Seems Like Bears Are Not Done Yet"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Bitcoin value is once more shifting decrease beneath the $26,500 assist. BTC stays prone to extra losses beneath the $26,000 assist within the close to time period.<\/em><\/p>\n<ul>\n<li>Bitcoin began a recent decline after it did not clear the $27,500 resistance.<\/li>\n<li>The value is buying and selling beneath $26,500 and the 100 hourly Simple shifting common.<\/li>\n<li>There is a significant bearish development line forming with resistance close to $26,500 on the hourly chart of the BTC\/USD pair (information feed from Kraken).<\/li>\n<li>The pair is now prone to extra downsides beneath the $26,000 stage.<\/li>\n<\/ul>\n<h2>Bitcoin Price Drops Again<\/h2>\n<p>Bitcoin value did not clear the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-correction-26350\/\" target=\"_blank\" rel=\"noopener\">$27,500 resistance<\/a> and began a recent decline. BTC traded beneath the $27,000 and $26,500 assist ranges to enter a bearish zone.<\/p>\n<p>There was additionally a transfer beneath the $26,200 assist stage. The value examined the $26,000 zone. A low was fashioned close to $26,026 and the value is now consolidating losses. It is buying and selling simply above the 23.6% Fib retracement stage of the current decline from the $26,711 swing excessive to the $26,026 low.<\/p>\n<p>Bitcoin is now buying and selling beneath $26,500 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-below-27-5k\/\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. Immediate resistance on the upside is close to the $26,350 stage. The first main resistance is close to the $26,500 zone, a connecting bearish development line, and the 61.8% Fib retracement stage of the current decline from the $26,711 swing excessive to the $26,026 low.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468\"><img decoding=\"async\" class=\"alignnone size-full wp-image-552716\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468\" alt=\"Bitcoin Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-16.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/a><\/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 subsequent key resistance may very well be close to the $26,700 stage, above which the value may acquire bullish momentum. In the said case, the value may even rise towards the $27,000 resistance. Any extra beneficial properties would possibly name for a transfer towards the $27,500 stage.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to begin a recent enhance above the $26,500 resistance, it may proceed to maneuver down. Immediate assist on the draw back is close to the $26,050 stage.<\/p>\n<p>The subsequent main assist is close to the $26,000 stage. A draw back break and shut beneath the $26,000 stage would possibly ship the value additional decrease towards the following assist at $25,400 within the coming periods. Any extra losses would possibly name for a take a look at of $25,000.<\/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 now beneath the 50 stage.<\/p>\n<p>Major Support Levels \u2013 $26,000, adopted by $25,400.<\/p>\n<p>Major Resistance Levels \u2013 $26,350, $26,500, and $26,700.<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-grinds-lower-26000\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Bitcoin value is once more shifting decrease beneath the $26,500 assist. BTC stays prone to extra losses beneath the $26,000 assist within the close to time period. Bitcoin began a recent decline after it did not clear the $27,500 resistance. The value is buying and selling beneath $26,500 and the 100 hourly Simple shifting 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