{"id":194196,"date":"2023-09-27T07:39:04","date_gmt":"2023-09-27T07:39:04","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194196"},"modified":"2023-09-27T07:39:04","modified_gmt":"2023-09-27T07:39:04","slug":"bitcoin-price-could-see-recovery-if-it-holds-this-key-support","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/bitcoin-price-could-see-recovery-if-it-holds-this-key-support\/","title":{"rendered":"Bitcoin Price Could See Recovery If It Holds This Key Support"},"content":{"rendered":"<p><em>Bitcoin price is consolidating above the $26,000 support. BTC could start a recovery wave if it clears the $26,500 resistance zone in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is still consolidating above the $26,000 support zone.<\/li>\n<li>The price is trading below $26,400 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $26,300 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a decent recovery wave unless there is a clear move below $26,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Recovery<\/h2>\n<p>Bitcoin price remained stable above the $26,000 support zone. BTC seems to be forming a short-term support base above the $26,000 level and is currently consolidating.<\/p>\n<p>Recently, the price made a recovery wave attempt above the $26,200 level. However, the bears remained active below the $26,500 level. They rejected the 50% Fib retracement level of the downward move from the $26,712 swing high to the $26,026 low.<\/p>\n<p>Bitcoin is now trading below $26,400 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $26,300 level. There is also a major bearish trend line forming with resistance near $26,300 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The next key resistance could be near the $26,350 level or the 100 hourly Simple moving average, above which the price could revisit the $26,500 resistance or the 76.4% Fib retracement level of the downward move from the $26,712 swing high to the $26,026 low.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-18.png?resize=1024%2C468\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>To start a recovery wave, the price must settle above $26,500. In the stated case, the price could climb toward the $27,000 resistance. Any more gains might call for a move toward the $27,500 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to start a fresh increase above the $26,300 resistance, it could continue to move down. Immediate support on the downside is near the $26,050 level.<\/p>\n<p>The next major support is near the $26,000 level. A downside break and close below the $26,000 level might start another major decline. The next support sits at $25,400. Any more losses might call for a test of $25,000.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now near the 50 level.<\/p>\n<p>Major Support Levels \u2013 $26,050, followed by $26,000.<\/p>\n<p>Major Resistance Levels \u2013 $26,300, $26,500, and $27,000.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-26k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating above the $26,000 support. BTC could start a recovery wave if&#8230;<\/p>\n","protected":false},"author":4,"featured_media":194195,"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 Recovery If It Holds This Key Support - 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-recovery-if-it-holds-this-key-support\/\" \/>\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 Recovery If It Holds This Key Support - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price is consolidating above the $26,000 support. 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