{"id":176439,"date":"2023-06-05T03:39:32","date_gmt":"2023-06-05T03:39:32","guid":{"rendered":"https:\/\/precoinnews.com\/?p=176439"},"modified":"2023-06-05T03:39:32","modified_gmt":"2023-06-05T03:39:32","slug":"bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-28k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-28k\/","title":{"rendered":"Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $28K"},"content":{"rendered":"<p><em>Bitcoin price is struggling to clear the $27,500 resistance zone. BTC is sliding and there could be a sharp decline toward $25,550 in the coming sessions.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to stay above the $27,000 support zone.<\/li>\n<li>The price is trading below $27,200 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a key bullish trend line with support near $27,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could revisit the $26,550 support and might continue to decline.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin price started a minor upside correction from the $26,550 support zone. BTC climbed above the $27,000 resistance zone and the 100 hourly Simple moving average.<\/p>\n<p>There was a move above the 23.6% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. However, the bears were active near the $27,500 resistance zone. There was no convincing move above the $27,350 resistance zone.<\/p>\n<p>Bitcoin price stayed below the 50% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. It is now trading below $27,200 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance on the upside is near the $27,200 level and the 100 hourly Simple moving average. The next major resistance is near the $27,350 level. The main resistance sits near the $27,500 level.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/06\/Bitcoin-2.png\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>An upside break and close above $27,500 could start a decent increase toward $28,000. Any more gains above the $28,000 resistance zone might send the price toward the $28,500 resistance zone. If there is a close above the $28,500 resistance, there could be a move toward the $30,000 resistance zone in the near term.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s price fails to clear the $27,350 resistance, it could continue to move down. Immediate support on the downside is near the $26,800 level.<\/p>\n<p>The next major support is near the $26,550 zone, below which the price might start a strong decline. In the stated case, the price could drop toward the $25,500 support in the coming sessions.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $26,800, followed by $26,550.<\/p>\n<p>Major Resistance Levels \u2013 $27,200, $27,350, and $27,500.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-28k-2\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to clear the<\/p>\n","protected":false},"author":3,"featured_media":176438,"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 v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $28K - 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