Bitcoin

<ul><li>Bitcoin is still struggling to stay above the $26,500 support level.</li><li>The price is trading below $27,250 and below the hourly 100 Simple Moving Average.</li><li>On the hourly chart, there is a clear downward trend line with resistance around $27,220 for the BTC/USD pair.</li></ul>The price of Bitcoin is consolidating above the $26,500 support level. If there is a clear move below this support level, BTC could experience a serious decline.<h2 id="header-0">Bitcoin Price Above $27,000 Again</h2>The price of Bitcoin remained in a downward trend below the $27,500 resistance level. BTC failed to recover and fell below $27,000 again.There was a rise in the support area of $26,550. A low was formed around $26,500 and the price is currently consolidating losses. The main decline is testing the 23.6% Fib retracement level of the move from the high of $28,450 to the low of $26,500.Bitcoin price is currently trading below $27,250 and below the 100 hourly Simple Moving Average. The BTC/USD pair has an important downward trend line around $27,220 on the hourly chart.The next major resistance level is around $27,500 and is close to the 100 hourly Simple Moving Average. This level is near the 50% Fib retracement level of the main decline from the high of $28,450 to the low of $26,500.<img src="https://en.coinotag.com/wp-content/uploads/2023/06/Bitcoin-Reaches-Above-27000-Again-Current-Support-and-Resistance-Levels.png" />BTC/USD 1 Hour Price ChartA rise and close above $27,500 could start a good increase towards $28,000. Further gains above the $28,000 resistance zone could lead the price towards the $28,500 resistance zone or even $29,200.<h2 id="header-1">Could the Decline Deepen?</h2>If the price of Bitcoin cannot surpass the $27,200 resistance, it could continue to fall. The next support level is around $26,560.The next major support level is near the $26,500 area, and if the price falls below this level, it could start a strong decline. In this case, the price could fall to the $25,500 support level in the next sessions.Technical indicators:<ul><li>Hourly MACD – The MACD is losing momentum in the bearish zone.</li><li>Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is below the 50 level.</li><li>Important Support Levels – $26,550, followed by $26,500.</li><li>Important Resistance Levels – $27,200, $27,400, and $27,500.</li></ul>Source: <a href="https://en.coinotag.com/bitcoin-reaches-above-27000-again-current-support-and-resistance-levels/" rel="noopener noreferrer nofollow">https://en.coinotag.com/bitcoin-reaches-above-27000-again-current-support-and-resistance-levels/</a>

Bitcoin Reaches Above $27,000 Again: Current Support and Resistance Levels

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