Bitcoin Price Sees Technical Correction, Here’s What Could Propel It Back To $28K
Bitcoin price climbed higher and tested the $27,500 resistance. BTC is correcting gains, but it could start another increase unless there is a move below $26,500....
- Bitcoin price climbed higher and tested the $27,500 resistance.
- BTC is correcting gains, but it could start another increase unless there is a move below $26,500.
- Bitcoin is holding gains above the $26,500 support level.
- The price is trading above $26,550 and the 100 hourly Simple moving average.
- There is a key bullish trend line forming with support near $26,600 on the hourly chart of the BTC/USD pair.
- The pair could start another increase if it stays above the $26,500 support zone.
- Immediate resistance on the upside is near the $26,950 level.
- The first major resistance is near the $27,500 zone, above which the price could gain pace.
- The next major resistance could be near the $28,200 level.
- The next major support is near the $26,500 level.
The sentiment of the article is mostly positive, as it highlights Bitcoin's climb in price and the potential for another increase. However, there is also a mention of potential downsides if certain resistance levels are not surpassed.