Bitcoin prices have rebounded above the resistance level of $27000. BTC must clear the resistance level of $27800 to begin a significant increase in the short term
Bitcoin prices have rebounded above the resistance level of $27000. BTC must clear the resistance level of $27800 to begin a significant increase in the short term.
- Bitcoin has tested a support area of $26000 and is currently recovering.
- The price is above $26500 and the 100 hour simple moving average.
- The hourly chart of the BTC/USD currency pair (based on Kraken's data) broke the main bearish trend line, with resistance around $27000.
- If it breaks through the resistance levels of $27500 and $27800, the currency pair may continue to rise.
Bitcoin prices are beginning to recover
Bitcoin prices will expand their decline to$27000 support areaBelow. Before the bulls appeared, BTC even fell below the level of $26200.
A low point has formed around $25851, and the price is currently correcting for losses. There is a good growth above the resistance level of $26500. The hourly chart of the BTC/USD currency pair broke the main bearish trend line, with resistance around $27000.
Bitcoin prices are currently trading above the 50% Fibonacci retracement level, moving down from a fluctuating high of $28334 to a low of $25851. Its trading price is also higher than $26500 and100 hour simple moving average
Direct resistance is currently forming around $27400. It has retreated from a high of $28334 to a low of $25851, with nearly 61.8% of Fibonacci retreating. The next major resistance level is around $27800.
Closing above the resistance level of $27800 may begin to rise significantly. The next key resistance level is around $28000, above which the price may climb to the resistance level of $28500.
More BTC losses?
27,400 27,000 100 hour simple moving average
The next major support level is around the $26500 area, below which prices may begin to decline significantly. In the above situation, it may re-examine the level of $26000. Any further losses could bring Bitcoin to a level of $25500 in the short term. The next major support level may be $25000.
Technical indicators:
Hourly MACD - MACD is now accelerating in bullish areas.
Hourly RSI (Relative strength index) - The RSI of BTC/USD is now higher than 50.
The main support level is $27000, followed by $26500.
Main resistance levels - $27400, $27800, and $28000.
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