{"id":193236,"date":"2023-09-05T05:39:24","date_gmt":"2023-09-05T05:39:24","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=193236"},"modified":"2023-09-05T05:39:24","modified_gmt":"2023-09-05T05:39:24","slug":"bitcoin-price-could-see-downside-thrust-before-the-bulls-take-a-stand","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/bitcoin-price-could-see-downside-thrust-before-the-bulls-take-a-stand\/","title":{"rendered":"Bitcoin Price Could See Downside Thrust Before The Bulls Take A Stand"},"content":{"rendered":"<p><em>Bitcoin price is struggling to recover above $26,200. BTC is again moving lower and there could be a sharp decline below $25,500 in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to recover above the $26,200 and $26,500 levels.<\/li>\n<li>The price is trading below $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could accelerate lower below the $25,500 and $25,400 levels in the near term.<\/li>\n<\/ul>\n<h2>Bitcoin Price Resumes Slide<\/h2>\n<p>Bitcoin price attempted a recovery wave from the $25,350 zone. However, BTC struggled to recover above the $26,200 pivot level and remained in a bearish zone.<\/p>\n<p>The price is again moving lower and trading below the $26,000 level. There are a lot of bearish signs emerging below $26,000 and the 100 hourly Simple moving average. Besides, there is a major bearish trend line forming with resistance near $25,650 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is near the $25,650 level and the trend line. The first major resistance is near the $26,000 level or the 23.6% Fib retracement level of the downward move from the $28,150 swing high to the $25,332 low.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-2.png?resize=1024%2C468\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>The next major resistance is now near the $26,200 level. A clear move above the $26,200 level might start a decent recovery wave toward $26,500. The next major resistance is near $27,000, above which there could be a decent increase. In the stated case, the price could test the $27,800 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,000 resistance, it could continue to move down. Immediate support on the downside is near the $25,350 level.<\/p>\n<p>The next major support is near the $25,000 level. A downside break below the $25,000 level might send the price further lower. In the stated case, the price could drop toward $24,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $25,350, followed by $25,000.<\/p>\n<p>Major Resistance Levels \u2013 $25,650, $26,000, and $26,200.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-downside-thrust-25000\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to recover above $26,200. BTC is again moving lower and there&#8230;<\/p>\n","protected":false},"author":4,"featured_media":193235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Price Could See Downside Thrust Before The Bulls Take A Stand - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/bitcoin-price-could-see-downside-thrust-before-the-bulls-take-a-stand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Could See Downside Thrust Before The Bulls Take A Stand - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price is struggling to recover above $26,200. 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