Bitcoin

Resistance

Rise

<div class='code-block code-block-3' style='margin: 8px 0; clear: both;'>
<table style="width: 100%; border-collapse: collapse; height: 52px;">
<tbody>
<tr style="height: 52px;">
<td style="width: 100%; text-align: center; height: 52px;"><a href="https://en.coinotag.com/altcoin-exchange-1333421" target="_blank" rel="noopener"><strong><span style="color: #000000;">- Newly Released Coins With Plenty of Zeros  -<br><span style="color: #e67e22;">Click Here to Buy at a Low Fee Before Anyone Else!</span></span></strong></a></td>
</tr>
</tbody>
</table></div>
<ul>
<li>Bitcoin is slowly trying to recover above the $25,200 support level.</li>
<li>The price is trading below $25,750 and below the hourly 100 Simple Moving Average.</li>
<li>On the hourly chart of BTC/USD, there is a significant downward trend line forming with resistance around $25,680.</li>
</ul>
<p><strong>The price of Bitcoin is attempting a recovery movement above the $25,200 resistance. BTC must surpass the hourly 100 SMA to continue to higher levels in the short term.</strong></p>
<h2 id="strong-bitcoin-price-above-25-500-strong"><strong>Bitcoin Price Above $25,500</strong></h2>
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-126950" src="https://en.coinotag.com/wp-content/uploads/2023/04/Bitcoin-Price-Surges-to-29000-Heres-the-Reason-for-the.jpg" alt="Bitcoin (BTC) (34)" width="1920" height="1080" /></p>
<p>The price of Bitcoin remained in a downward trend below the $26,200 resistance zone. BTC continued to fall below the $25,500 support and even sharply dropped below $25,000.</p>
<p>A low was formed around $24,751 and the price is currently attempting a recovery movement. The price has clearly risen above the $25,000 and $25,200 resistance levels. The price has also surpassed the 50% Fib retracement level of the drop from the $26,062 high to the $24,751 low.</p>
<p>The price of Bitcoin is currently trading below $25,750 and below the hourly 100 Simple Moving Average. Additionally, on the hourly chart of BTC/USD, there is a significant downward trend line forming with resistance near $25,680. The pair is currently facing resistance near the trend line and the hourly 100 Simple Moving Average. It is also near the 61.8% Fib retracement level of the drop from the $26,062 high to the $24,751 low. The next significant resistance level is near $25,750.</p>
<p><a href="https://en.coinotag.com/wp-content/uploads/2023/06/Bitcoin-Price-is-Trying-to-Recover-Will-the-Rise-Continue.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-133610 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/Bitcoin-Price-is-Trying-to-Recover-Will-the-Rise-Continue.png" alt="btc-usd-1" width="1810" height="802" /></a></p>
<p>BTC/USD 1 Hour Price Chart</p>
<p>A clear break above the $25,750 resistance could initiate a new increase. The next significant resistance level is near $26,200, and bulls could push BTC towards the $26,500 resistance zone.</p>
<h2 id="strong-can-btc-continue-to-decline-strong"><strong>Can BTC Continue to Decline?</strong></h2>
<p>If the price of Bitcoin fails to surpass the $25,750 resistance, it could start a new decline. The immediate support level on the downside is near $25,200.</p>
<p>The next significant support level is near $24,820. If the price falls below this level, it could start a new significant decline. In this case, the price could drop towards the $24,000 support in the short term.</p>
<p><strong>Technical indicators:</strong></p>
<ul>
<li>Hourly MACD – MACD is losing momentum in the bearish zone.</li>
<li>Hourly RSI (Relative Strength Index) – RSI for BTC/USD is above the 50 level.</li>
<li>Important Support Levels – $25,200, followed by $24,820.</li>
<li>Important Resistance Levels – $25,680, $25,750, and $26,200.</li>
</ul>

<p>The post <a rel="nofollow" href="https://en.coinotag.com/bitcoin-price-is-trying-to-recover-will-the-rise-continue/">Bitcoin Price is Trying to Recover: Will the Rise Continue?</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG</a>.</p>

Bitcoin Price is Trying to Recover: Will the Rise Continue?

Table of Contents

COINOTAG NEWS

Other articles published on Jun 16, 2023

Bitcoin (BTC) Just Reached New ATH

Magpie: The SubDAO Model

Insider Sell-Off Raises Concerns Over PEPE Coin's Future

Blockchain Technology for Green and Digital Transition: Slovenian Ministry Partners with Future B...

Bitcoin Shot Up $1K Following BlackRock’s BTC ETF Filing (Market Watch)

Veteran Trader Forecasts Sharp Drop for Bitcoin and Ethereum

Join our free newsletter for daily crypto updates!