{"id":181638,"date":"2023-09-21T03:40:21","date_gmt":"2023-09-21T03:40:21","guid":{"rendered":"https:\/\/precoinnews.com\/?p=181638"},"modified":"2023-09-21T03:40:21","modified_gmt":"2023-09-21T03:40:21","slug":"bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-27-5k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/bitcoin-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-27-5k\/","title":{"rendered":"Bitcoin Price Topside Bias Vulnerable If It Continues To Struggle Below $27.5K"},"content":{"rendered":"<p><em>Bitcoin price is struggling to clear the $27,500 resistance. BTC is slowly moving lower and might revisit the $26,200 support zone in the coming sessions.<\/em><\/p>\n<ul>\n<li>Bitcoin is still struggling to clear the $27,500 resistance.<\/li>\n<li>The price is trading above $26,800 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support near $26,810 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a bearish wave below $26,800 if it continues to struggle below $27,500.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Rejection<\/h2>\n<p>Bitcoin price made a couple of attempts to gain strength for a move above the $27,500 resistance zone. However, BTC failed to continue higher and slowly moved lower after the Fed interest rate decision.<\/p>\n<p>The Fed kept the rates steady at 5.5% and it did not impact Bitcoin much. The price is now moving lower below the $27,200 level. There was a break below the 50% Fib retracement level of the upward move from the $26,656 swing low to the $27,495 high.<\/p>\n<p>Bitcoin is now trading above $26,800 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support near $26,810 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>If the price remains stable above the trend line, it could rise again. Immediate resistance on the upside is near the $27,280 level. The first major resistance is near the $27,500 zone, above which the price could gain bullish momentum.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Bitcoin-14.png?resize=1024%2C468\"><\/p>\n<p>Source: BTCUSD on TradingView.com<\/p>\n<p>The next key resistance could be near the $28,200 level. A close above the $28,200 resistance could push the price toward the $29,500 resistance. Any more gains might call for a move toward the $30,000 level in the coming days.<\/p>\n<h2>Downside Break In BTC?<\/h2>\n<p>If Bitcoin fails to start a fresh increase above the $27,280 resistance, it could continue to move down. Immediate support on the downside is near the $26,855 level or the 76.4% Fib retracement level of the upward move from the $26,656 swing low to the $27,495 high.<\/p>\n<p>The next major support is near the $26,800 level and the trend line. A downside break and close below the $26,800 level might spark more bearish moves and the price could decline toward the next support at $26,200.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish 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 $26,800, followed by $26,200.<\/p>\n<p>Major Resistance Levels \u2013 $27,280, $27,500, and $28,200.<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-below-27-5k\/\" 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":181637,"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 - 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