Bitcoin

Resistance

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<ul> 
 <li>Bitcoin price has started a new decline from the $27,500 resistance. BTC entered a bearish trend by trading below the $27,000 level.</li> 
 <li>The price was strong near the $26,550 level. Bears attempted to pull the price below the $26,550 level twice but failed.</li> 
 <li>The next significant support is near the $26,500 level. A drop and close below the $26,500 support could push the price even lower.</li> 
</ul> 
<p><strong>Bitcoin’s price is gaining momentum on the last day of the week and aiming for $27,000. Here are the next critical resistance levels and possible BTC price scenarios!</strong></p> 
<h2 id="strong-bitcoin-price-approaching-27-000-strong"><strong>Bitcoin Price Approaching $27,000</strong></h2> 
<p>Bitcoin price has started a new decline from the $27,500 resistance. BTC entered a bearish trend by trading below the $27,000 level. Eventually, bulls appeared above the $26,500 support level.</p> 
<p>The price was strong near the $26,550 level. Bears attempted to pull the price below the $26,550 level twice but failed. The price is currently consolidating losses below the 23.6% Fib retracement level of the drop from $28,285 to $26,551.</p> 
<p>Bitcoin is currently trading below $27,200 and the 100-hour Simple Moving Average. On the hourly chart, there’s a crucial bearish trend line forming with resistance near $26,200 for the BTC/USD pair.</p> 
<p>Immediate resistance is near $26,950. The first major resistance is at $27,200 and the 100-hour Simple Moving Average. The next significant resistance is near $27,400 and the trendline. This level is close to the 50% Fib retracement level of the drop from $28,285 to $26,551.</p> 
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 <figcaption id="caption-attachment-129729" class="wp-caption-text">
  BTC/USD 1H Chart
 </figcaption>
</figure> 
<p>A close above the $27,500 resistance could initiate a steady increase towards $28,000. The primary barrier is still at $28,500, and a price rally can begin above this level. In this case, the price could rise towards the $30,000 resistance.</p> 
<h2 id="strong-is-more-damage-possible-for-btc-strong"><strong>Is More Damage Possible for BTC?</strong></h2> 
<p>If Bitcoin cannot secure a higher recovery above the $27,200 resistance, there might be further losses. The immediate downside support is near the $26,550 level.</p> 
<p>The next significant support is near the $26,500 level. A drop and close below the $26,500 support could push the price even lower. The next support level is $26,000.</p> 
<p><strong>Technical Indicators:</strong></p> 
<ul> 
 <li>Hourly MACD – The MACD is currently losing momentum in the bearish zone.</li> 
 <li>Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level.</li> 
 <li>Major Support Levels – $26,550, followed by $26,500.</li> 
 <li>Major Resistance Levels – $27,200, $27,400, and $27,500.</li> 
</ul> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/october-13-bitcoin-analysis-the-next-critical-support-will-be-crucial-for-btc/">October 13 Bitcoin Analysis: The Next Critical Support Will Be Crucial for BTC!</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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October 13 Bitcoin Analysis: The Next Critical Support Will Be Crucial for BTC!

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