{"id":172433,"date":"2023-03-15T07:26:54","date_gmt":"2023-03-15T07:26:54","guid":{"rendered":"https:\/\/precoinnews.com\/?p=172433"},"modified":"2023-03-15T07:26:54","modified_gmt":"2023-03-15T07:26:54","slug":"bitcoin-price-analysis-btc-rally-could-extend-above-26k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-analysis-btc-rally-could-extend-above-26k\/","title":{"rendered":"Bitcoin Price Analysis: BTC Rally Could Extend Above $26K"},"content":{"rendered":"
Bitcoin price is showing positive signs above $24,000 against the US Dollar. BTC might gain bullish momentum if there is a clear move above the $25,250 zone.<\/em><\/p>\n Bitcoin price started a steady increase from the $20,000 support zone. The price gained and cleared many hurdles near the $22,500 and $23,500 levels.<\/p>\n There was a clear move above the $24,000 level and the 55 simple moving average (4-hours). Besides, there was a break above a crucial bearish trend line with resistance near $21,950 on the 4-hours chart of the BTC\/USD pair. The bulls gained pace for a move above the $25,000 zone.<\/p>\n The price even spiked above the $26,000 resistance zone and formed a high near $26,533. Recently, there was a downside correction below the $25,500 level.<\/p>\n The price declined below the 23.6% Fib retracement level of the upward move from the $19,568 swing low to $26,533 high. The price is now trading above $23,000 and the 55 simple moving average (4-hours). An immediate resistance on the upside is near the $25,250 level.<\/p>\n The first major resistance is near the $26,000 level. The next major resistance on the upside is near the $26,500 level, above which the price could rise towards the $27,800 zone.<\/p>\n Any more gains might send the price towards the $28,000 zone. If there is no upside break, the price might start a downside correction below $24,400. The next key support is near the $23,000 level. It is close to the 50% Fib retracement level of the upward move from the $19,568 swing low to $26,533 high. Any more losses might call for a move towards the $22,000 support zone.<\/p>\n <\/p>\n Bitcoin Price<\/p>\n Looking at the chart, bitcoin price is clearly trading above $23,500 and the 55 simple moving average (4-hours). Overall, the price could continue to rise if there is a clear move above $25,250 level in the near term.<\/p>\n 4 hours MACD \u2013 The MACD is now losing momentum in the bullish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI is now above the 50 level.<\/p>\n Key Support Levels \u2013 $24,400 and $23,000.<\/p>\n Key Resistance Levels \u2013 $25,250, $26,500 and $28,000.<\/p>\nBitcoin Price Analysis<\/h2>\n
Technical Indicators<\/h2>\n