Bitcoin

The post <a rel="nofollow" href="https://coinpedia.org/price-analysis/btc-price-analysis-is-a-bear-trap-set-for-bitcoin-price-at-26k/">BTC Price Analysis: Is A Bear Trap Set For Bitcoin Price At $26K?</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Amidst the recent bustling market, <a href="https://coinpedia.org/bitcoin/bitcoins-price-forecast-is-a-sub-20k-scenario-in-sight/" target="_blank" rel="noreferrer noopener">Bitcoin price</a> demonstrated a notable 2.74% surge last Tuesday. This uptick has further emboldened the bullish momentum, thrusting Bitcoin price past the $26,600 threshold, marking an impressive 5.88% increase over the past week.&nbsp; 
Yet, the weekend witnessed a slight deceleration in trading volume, hinting at a subdued bearish sentiment, mirrored by the appearance of a few doji red candles.<img decoding="async" src="https://lh6.googleusercontent.com/bdLdQDNqHkqTnQvqs5LGZyQIiUduPaKWTqQuQfvCcN-SFcmaj5DeZZzgAkEW_-V6w8Xqom_-aQA1yzyYQf2Wbt6PVvEHsh0Uz3C4RVOvyc6faFN7A95-eIyZWI27J4r6Lg0A81b6guNgiBNaeBnD6Sc" style=""> 
As we enter new week, Bitcoin price refuses to bow down, marching on with an intraday surge of 0.51%. At present, it’s trading hands at $26,670, forming an optimistic bullish candle, mitigating the minor pullback seen over the weekend. 
A close inspection of the 50 and 200-day EMAs reveals a looming convergence, flagging potential for a death cross. Concurrently, an impending resistance trendline hovers just above the interplay of the EMAs as the next bearish hurdle for Bitcoin price. 
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 <img decoding="async" width="1600" height="723" src="https://image.coinpedia.org/wp-content/uploads/2023/09/18113426/image-46.png" alt="" class="wp-image-230291" srcset="https://image.coinpedia.org/wp-content/uploads/2023/09/18113426/image-46.png 1600w, https://image.coinpedia.org/wp-content/uploads/2023/09/18113426/image-46-300x136.png 300w, https://image.coinpedia.org/wp-content/uploads/2023/09/18113426/image-46-1024x463.png 1024w, https://image.coinpedia.org/wp-content/uploads/2023/09/18113426/image-46-768x347.png 768w, https://image.coinpedia.org/wp-content/uploads/2023/09/18113426/image-46-1536x694.png 1536w, https://image.coinpedia.org/wp-content/uploads/2023/09/18113426/image-46-150x68.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
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 Trading View
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Contrary to the daily chart, the technical 4-hour chart shows the high possibility of a golden crossover with the recent recovery. The consolidation zone of Bitcoin price is pinned between $26,274 and $26,730. A breakout in either direction will fuel Bitcoin’s next big move.&nbsp; 
However, the upside breakout is ready to face the opposition from the resistance trendline and the EMAs.&nbsp; 
Technical indicators: 
Relative Strength Index: The daily RSI presents a bullish front as it bounces above the halfway line. 
MACD: MACD and signal lines maintain a positive trend with rising bullish histograms. 
Therefore, the momentum indicators display a bullish point of view. 
Also Read: <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin Price Prediction 2023, 2024, 2025: Here’s How BTC Price Prediction Forecasts $100K Before 2025?</a> 
<h2 class="wp-block-heading" id="h-where-is-the-bitcoin-price-heading">Where is the Bitcoin Price Heading?</h2> 
With multiple lower price rejection candles, the bullish breakout possibility increases for the Bitcoin price trend. Considering the range breakout rally surpasses the resistance trendline breakout, the <a href="https://coinpedia.org/price-analysis/bitcoin-btc-price-to-surge-above-30k-in-october-predicts-crypto-analyst/">BTC price</a> can reach the $30,000 mark.&nbsp; 
On the bottom side, a breakdown below $26,274 can lead to a nosedive to $25,600 or $24,900.&nbsp;

BTC Price Analysis: Is A Bear Trap Set For Bitcoin Price At $26K?

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