Bitcoin Bears Aim Big After Recent Breakdown Below $26,500

May 25, 2023 04:00 am Cryptocurrency 92

Bitcoin price is declining from the $27,500 resistance. BTC traded below $26,500 and now remains at risk of a drop toward the $25,500 support zone.

Bitcoin is moving lower from the $27,400 and $27,500 resistance levels.

The price is trading below $26,500 and the 100 hourly Simple moving average.

There is a key bearish trend line forming with resistance near $26,650 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could recover but upsides might be limited above the $26,500 resistance.

Bitcoin Price Extends Decline

Bitcoin price started another decline from the $27,500 resistance zone. BTC failed to stay in a positive zone above the $26,850 support zone and extended its decline.

The bears were able to push the price below the key $26,550 support zone. The price even spiked below the $26,000 level. A low is formed near $25,865 and the price is now consolidating losses. Bitcoin price is trading below $26,500 and ..

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