{"id":193665,"date":"2023-09-14T05:40:08","date_gmt":"2023-09-14T05:40:08","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=193665"},"modified":"2023-09-14T05:40:08","modified_gmt":"2023-09-14T05:40:08","slug":"bitcoin-price-is-primed-for-rally-and-only-1-thing-is-holding-it-back","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/bitcoin-price-is-primed-for-rally-and-only-1-thing-is-holding-it-back\/","title":{"rendered":"Bitcoin Price Is Primed For Rally And Only 1 Thing is Holding it Back"},"content":{"rendered":"<p><em>Bitcoin price is moving higher above the $26,200 resistance. BTC could gain bullish momentum if there is a daily close above the $26,500 resistance.<\/em><\/p>\n<ul>\n<li>Bitcoin is showing a few positive signs above the $26,200 level.<\/li>\n<li>The price is trading above $26,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support near $26,050 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh rally if there is a close above $26,500 and then a move above $27,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Upside Break<\/h2>\n<p>Bitcoin price remained well-bid above the $25,500 support zone. BTC formed a base and recently started a fresh increase above the $26,000 resistance zone.<\/p>\n<p>There was a sharp spike above the $26,500 resistance zone. However, there was no close above the $26,500 resistance zone. The price traded as high as $27,212 and there was a nasty bearish reaction. The price reversed its gains and traded below the $26,650 level.<\/p>\n<p>There was a move below the 23.6% Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high. Bitcoin is now trading above $26,000 and the 100 hourly Simple moving average.<\/p>\n<p>Besides, there is a connecting bullish trend line forming with support near $26,050 on the hourly chart of the BTC\/USD pair. Immediate resistance on the upside is near the $26,500 level. The first major resistance is near the $26,650 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-9.png?resize=1024%2C468\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>The next key resistance could be near the $27,200 level. A proper close above the $26,500 level and then a break above $27,200 might start a decent increase. The next major resistance is near $28,000, above which the bulls could gain strength. In the stated case, the price could test the $28,800 level.<\/p>\n<h2>Fresh Drop In BTC?<\/h2>\n<p>If Bitcoin fails to start a fresh increase above the $26,500 resistance, it could continue to move down. Immediate support on the downside is near the $26,050 level and the trend line.<\/p>\n<p>The next major support is near the $25,800 level or the 61.8% Fib retracement level of the upward move from the $24,925 swing low to the $27,212 high. A downside break and close below the $25,800 level might send the price toward the key support at $25,550.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $26,050, followed by $25,800.<\/p>\n<p>Major Resistance Levels \u2013 $26,500, $26,650, and $27,200.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-rally-above-26500\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is moving higher above the $26,200 resistance. BTC could gain bullish momentum if&#8230;<\/p>\n","protected":false},"author":4,"featured_media":193664,"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 Is Primed For Rally And Only 1 Thing is Holding it Back - 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-is-primed-for-rally-and-only-1-thing-is-holding-it-back\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Is Primed For Rally And Only 1 Thing is Holding it Back - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price is moving higher above the $26,200 resistance. 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