{"id":1235569,"date":"2023-06-06T04:27:09","date_gmt":"2023-06-06T03:27:09","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/bitcoin-price-nosedives-below-support-as-bears-target-25k\/"},"modified":"2023-06-06T04:27:09","modified_gmt":"2023-06-06T03:27:09","slug":"bitcoin-price-nosedives-below-support-as-bears-target-25k","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/bitcoin-price-nosedives-below-support-as-bears-target-25k\/","title":{"rendered":"Bitcoin Price Nosedives Below Support As Bears Target $25K"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p><em>Bitcoin price is down 5% and trading below the $26,000 level. BTC is now at risk of a move toward the $25,000 support in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a sharp decline below the $27,000 level.<\/li>\n<li>The price is trading below $26,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $26,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could correct higher but upsides might be limited above $26,200 and $26,400.<\/li>\n<\/ul>\n<h2>Bitcoin Price Takes Hit<\/h2>\n<p>Bitcoin price failed to start a fresh increase above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-28k-2\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">$27,000 resistance<\/a>. BTC started a fresh decline below the $26,500 support and the 100 hourly Simple moving average.<\/p>\n<p>The price is down 5% and there was a move below the $26,000 support. It even retested the $25,400 support zone. It is now consolidating below $26,500 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-confluence-27500\/?swcfpc=1\" target=\"_blank\" rel=\"noopener\">100 hourly Simple moving average<\/a>. There is also a connecting bearish trend line forming with resistance near $26,100 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin is now facing resistance near the $25,900 level. It is near the 23.6% Fib retracement level of the recent drop from the $27,489 swing high to the $25,400 low.<\/p>\n<p>The next major resistance is near the $26,100 level and the trend line. The main resistance sits near the $26,500 level or the 50% Fib retracement level of the recent drop from the $27,489 swing high to the $25,400 low, above which the price might start a decent increase.<\/p>\n<p><img decoding=\"async\" loading=\"lazy\" class=\"alignnone size-full wp-image-536554\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/06\/Bitcoin-Price-Nosedives-Below-Support-As-Bears-Target-25K.png\" alt=\"Bitcoin Price\" width=\"1950\" height=\"1109\"  \/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"nofollow noopener\">BTCUSD on TradingView.com<\/a><\/p>\n<p>The next key resistance is near the $26,700 level. An upside break and close above $26,700 could start a decent increase toward $27,200. Any more gains above the $27,200 resistance zone might send the price toward the $27,500 resistance zone.<\/p>\n<h2>More Losses in BTC?<\/h2>\n<p>If Bitcoin\u2019s price fails to clear the $26,100 resistance, it could continue to move down. Immediate support on the downside is near the $25,400 level.<\/p>\n<p>The next major support is near the $25,000 zone, below which the price might accelerate lower. In the stated case, the price could drop toward the $24,500 support in the coming sessions.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $25,400, followed by $25,000.<\/p>\n<p>Major Resistance Levels \u2013 $26,000, $26,100, and $26,500.<\/p>\n<\/div>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-nosedives-25k\/\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is down 5% and trading below the $26,000 level. BTC is now at risk of a move toward the $25,000 support in the near term. Bitcoin started a sharp decline below the $27,000 level. The price is trading below $26,500 and the 100 hourly Simple moving average. There is a connecting bearish trend [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":945821,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-1235569","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin Price Nosedives Below Support As Bears Target $25K - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-nosedives-25k\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Nosedives Below Support As Bears Target $25K - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price is down 5% and trading below the $26,000 level. BTC is now at risk of a move toward the $25,000 support in the near term. Bitcoin started a sharp decline below the $27,000 level. The price is trading below $26,500 and the 100 hourly Simple moving average. 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