Earn Your First Bitcoin Sign up and get Bonus Referral bonus up to ,000 Sign up Bitcoin price is attempting a fresh increase from the ,400 zone against the US Dollar. The price is now trading below ,500 and the 55 simple moving average (4 hours). There is a major bearish trend line forming with resistance near ,300 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase). The pair could start a fresh increase if it clears the ,400 resistance zone. Bitcoin price is rising from ,400 against the US Dollar. BTC might eye another increase if the bulls remain active above the ,400 zone. Bitcoin Price Analysis Bitcoin price remained well-bid above the ,400 level.
Topics:
Aayush Jindal considers the following as important: Bitcoin, Bitcoin News, BTC, News, Trading
This could be interesting, too:
Steve Muchoki writes Ethereum (ETH) Price Dips Below K amid Increased Short-Term Fear
Temitope Olatunji writes Taiwan Proposes Strict AML Laws for Crypto Firms
Bena Ilyas writes Bitcoin Price Struggles to Stay Above ,000 despite Positive European Equity Rally
Tolu Ajiboye writes Ripple and XRPL Labs Join Digital Asset Recovery Protocol DeRec Alliance
Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000
Sign up- Bitcoin price is attempting a fresh increase from the $25,400 zone against the US Dollar.
- The price is now trading below $26,500 and the 55 simple moving average (4 hours).
- There is a major bearish trend line forming with resistance near $26,300 on the 4-hour chart of the BTC/USD pair (data feed from Coinbase).
- The pair could start a fresh increase if it clears the $26,400 resistance zone.
Bitcoin price is rising from $25,400 against the US Dollar. BTC might eye another increase if the bulls remain active above the $26,400 zone.
Bitcoin Price Analysis
Bitcoin price remained well-bid above the $25,400 level. A base was formed and the price was able to avoid more losses below the $25,400 level. The bulls remained active and were able to slowly push the price above the $26,000 level.
There was a move above the 23.6% Fib retracement level of the recent drop from the $27,402 swing high to the $25,385 low. Bitcoin price is now trading below $26,500 and the 55 simple moving average (4 hours).
Immediate resistance on the upside is near the $27,200 level. There is also a major bearish trend line forming with resistance near $26,300 on the 4-hour chart of the BTC/USD pair. The trend line is just below the 50% Fib retracement level of the recent drop from the $27,402 swing high to the $25,385 low.
The next major resistance might be near the $26,640 zone. A clear move above the $26,400 and $26,640 resistance levels might send the price toward $27,500.
Any more gains might push the price toward the $28,000 zone. If there is no upside break, the price might start a fresh decline below the $26,000 level. The first major support is near $25,550. The next key support is near the $25,400 level, below which the price might accelerate lower. In the stated case, the price could decline toward the $25,000 level in the coming sessions.
Bitcoin Price
Looking at the chart, Bitcoin’s price is trading below $26,500 and the 55 simple moving average (4 hours). Overall, the price could start a fresh increase if it clears the $26,400 resistance zone.
Technical Indicators
4 hours MACD – The MACD is now losing momentum in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI is now above the 50 level.
Key Support Levels – $25,550 and $25,400.
Key Resistance Levels – $26,200, $26,350, and $26,500.