{"id":194279,"date":"2023-09-28T05:40:36","date_gmt":"2023-09-28T05:40:36","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194279"},"modified":"2023-09-28T05:40:36","modified_gmt":"2023-09-28T05:40:36","slug":"bitcoin-bulls-keep-pushing-but-faces-rejection-100-sma-is-the-key","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/bitcoin-bulls-keep-pushing-but-faces-rejection-100-sma-is-the-key\/","title":{"rendered":"Bitcoin Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key"},"content":{"rendered":"<p><em>Bitcoin price attempted a fresh increase above the $26,500 resistance. However, BTC failed to settle above $26,700 and reacted to the downside.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to clear $26,500 and $26,700.<\/li>\n<li>The price is trading above $26,200 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support near $26,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could again climb higher unless there is a close below $26,200 and $26,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Uphill Task<\/h2>\n<p>Bitcoin price started a decent recovery wave from the $26,000 support zone. BTC climbed higher above the $26,350 and $26,500 resistance levels.<\/p>\n<p>The price even spiked above the $26,700 resistance. However, the bears defended more gains. A high was formed near $26,818 and there was a strong rejection pattern. The price trimmed all gains and declined below the $26,500 level.<\/p>\n<p>It even dived below $26,200. A low is formed near $26,100 and the price is now attempting a fresh increase. Bitcoin is trading above $26,200 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support near $26,200 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance on the upside is near the $26,450 level. It is close to the 50% Fib retracement level of the downward move from the $26,818 swing high to the $26,100 low.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-19.png?resize=1024%2C458\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>The next key resistance could be near the $26,650 level or the 76.4% Fib retracement level of the downward move from the $26,818 swing high to the $26,100 low. To start a recovery wave, the price must settle above $26,650. 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>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to start a fresh increase above the $26,450 resistance, it could start another decline. Immediate support on the downside is near the $26,200 level and the trend line.<\/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 above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $26,200, followed by $26,000.<\/p>\n<p>Major Resistance Levels \u2013 $26,450, $26,650, and $27,000.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-bulls-keep-pushing-26k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price attempted a fresh increase above the $26,500 resistance. However, BTC failed to settle&#8230;<\/p>\n","protected":false},"author":4,"featured_media":194278,"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 Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key - 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-bulls-keep-pushing-but-faces-rejection-100-sma-is-the-key\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Bulls Keep Pushing But Faces Rejection, 100 SMA Is The Key - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price attempted a fresh increase above the $26,500 resistance. 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