{"id":180375,"date":"2023-08-22T05:39:39","date_gmt":"2023-08-22T05:39:39","guid":{"rendered":"https:\/\/precoinnews.com\/?p=180375"},"modified":"2023-08-22T05:39:39","modified_gmt":"2023-08-22T05:39:39","slug":"bitcoin-price-signals-bearish-continuation-but-bears-losing-strength","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-signals-bearish-continuation-but-bears-losing-strength\/","title":{"rendered":"Bitcoin Price Signals Bearish Continuation But Bears Losing Strength"},"content":{"rendered":"<p><em>Bitcoin price is struggling to recover above the $26,500 level. BTC could gain bearish momentum if there is a move below the $25,600 support.<\/em><\/p>\n<ul>\n<li>Bitcoin is struggling to recover above the $26,500 resistance zone.<\/li>\n<li>The price is trading below $26,400 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move down if there is a break below the $25,600 support.<\/li>\n<\/ul>\n<h2>Bitcoin Price Aims Lower<\/h2>\n<p>Bitcoin price attempted a recovery wave above the $26,000 resistance zone. BTC climbed above $26,200 but struggled to continue higher.<\/p>\n<p>It formed a top near the $26,500 zone and recently started a fresh decline. There was a move below the $26,200 level. Besides, there was a break below a connecting bullish trend line with support near $26,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin tested the 50% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. It is now trading below $26,400 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance is near the $26,100 level and the 100 hourly Simple moving average. The next major resistance is near $26,250. A clear move above the $26,250 resistance might send the price toward the $26,500 resistance zone.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/08\/Bitcoin-12.png?resize=1024%2C468\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>The main breakout zone is now forming near the $27,000 zone. A close above the $27,000 resistance could start a decent increase toward the $27,550 resistance zone. Any more gains might set the pace for a larger increase toward $28,150.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $26,250 resistance, it could continue to move down. Immediate support on the downside is near the $25,900 zone.<\/p>\n<p>The next major support is near the $25,600 level or the 61.8% Fib retracement level of the recovery wave from the $24,800 swing low to the $26,981 high. A downside break below the $25,600 level might push the price further into a bearish zone. In the stated case, the price could drop toward $25,000.<\/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 now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $25,900, followed by $25,600.<\/p>\n<p>Major Resistance Levels \u2013 $26,250, $26,500, and $27,000.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-26500\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is struggling to recover above<\/p>\n","protected":false},"author":3,"featured_media":180374,"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 Signals Bearish Continuation But Bears Losing Strength - 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