Bitcoin Price Technical Analysis: BTC Could Move Towards $25,000!

  • Bitcoin struggled to recover above the $27,500 and $27,800 resistance levels.
  • The price is trading below $27,500 and the 100 hourly simple moving average.
  • On the hourly BTC/USD pair chart, two downward trend lines are forming with resistance near $27,000 and $27,800 (data feed from Kraken).
  • If BTC/USDT confirms breaking the $26,750 support area, it could continue to decline.

Bitcoin price is in a downward trend below $28,000. BTC faces a risk of a drop towards the $25,000 support in the near term.

Bitcoin Price Continues to Decline, Testing 26,000!

Bitcoin price failed to initiate a recovery wave above the $27,800 level. BTC continued to remain in a bear market and settled below the $27,500 support area.

Bears were able to push the price below the $27,000 level. A low was formed around $26,720 and the price is now showing many bearish signs. It is still trading below $27,500 and the 100 hourly simple moving average. On the hourly BTC/USD pair chart, two downward trend lines are forming with resistance near $27,000 and $27,800.

Bitcoin price could face sellers near the $27,000 level or the 23.6% Fib retracement level of the last drop from the $28,335 high to $26,720 low, which is near the $27,000 level.

The next major resistance is near the $27,350 level. The major resistance is now the next trend line and is forming near $27,800. This is near the 50% Fib retracement level of the last drop from the $28,335 high to $26,720 low.

BTCUSD Hourly Chart

A close above the $27,800 resistance and the 100 hourly simple moving average could start a proper increase. The next major resistance is near $28,000, above which the price could climb towards the $28,500 resistance.

Is More Loss Seen in Bitcoin Daily Price Analysis?

BTCUSDT Günlük Grafik 12 May

BTC USDT Chart Updated 26,000 Test

If Bitcoin cannot surpass the $27,500 resistance, it could continue its downward trend. The immediate downside support is at the $26,750 level. We see that this support has been tested, but the daily close has not yet come. Especially on the chart where the 100-day MA has become a support at $26,000.

The next major support was at the $26,500 area, below which the price could gain bearish momentum. However, it should be noted that we have not yet seen major closures. In this case, Bitcoin could revisit the $26,000 level. More losses could take Bitcoin towards the $25,000 level in the near term.

Technical Indicators:

Hourly MACD – MACD is now gaining momentum in the bear market.

Hourly RSI (Relative Strength Index) – RSI for BTC/USD is now below the 50 level.

Main Support Levels – $26,750, followed by $26,000.

Main Resistance Levels – $27,000, $27,350, and $27,800.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

Latest News

Ethereum (ETH) Bullish Momentum: Key Indicators Point Towards $3,360 Resistance Level

The world's second-largest cryptocurrency, Ethereum (ETH), shows...

Janet Yellen Warns BRICS Sanctions Could Erode US Dollar Dominance

Janet Yellen, the United States...

XRP Court Victory: Landmark Ruling Redefines Cryptocurrency Regulations

The legal skirmish between Ripple Labs and...

PRO Analysis

FLM Coin: In-Depth Analysis and Future Price Predictions of Flamingo Finance

Flamingo Finance, a DeFi platform built on...

Covalent (CQT) Coin: Comprehensive Blockchain Data Analysis and Future Price Predictions

Covalent emerges as a groundbreaking software integrating...

MOCA Coin: An In-Depth Look at Its Potential and Latest Price Analysis

MOCA Coin, LayerZero v2 protokolünde geliştirilen ve...

Ethereum Price Analysis: Potential Drop to $2,700 as Resistance Holds Strong

Ethereum's price trajectory has seen significant volatility,...
Jocelyn Blake
Jocelyn Blake
Jocelyn Blake is a 29-year-old writer with a particular interest in NFTs (Non-Fungible Tokens). With a love for exploring the latest trends in the cryptocurrency space, Jocelyn provides valuable insights on the world of NFTs.

Samson Mow Predicts Major Bitcoin (BTC) Rally Amid Growing Adoption and Fiat Decline

Bitcoin's recent performance has raised questions about its future potential. Amid concerns, key figures like Samson Mow remain optimistic about Bitcoin's...

Bitcoin Donations Surge as Germany Faces Backlash Over Massive BTC Selloff

German crypto activists respond to the Saxony government's Bitcoin selloff with unexpected donations. These donations underscore a broader protest against governmental...

Bitcoin ETFs See Substantial Inflows as Fidelity Adds $58 Million in BTC Holdings

The recent rebound in the cryptocurrency market has been marked by significant inflows from both retail and institutional investors. Companies are...