Bitcoin Price Grinds Lower And Seems Like Bears Are Not Done Yet

Sep 25, 2023 04:00 am Cryptocurrency 71

Bitcoin price is again moving lower below the $26,500 support. BTC remains at risk of more losses below the $26,000 support in the near term.

Bitcoin started a fresh decline after it failed to clear the $27,500 resistance.

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

There is a major bearish trend line forming with resistance near $26,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair is now at risk of more downsides below the $26,000 level.

Bitcoin Price Drops Again

Bitcoin price failed to clear the $27,500 resistance and started a fresh decline. BTC traded below the $27,000 and $26,500 support levels to enter a bearish zone.

There was also a move below the $26,200 support level. The price tested the $26,000 zone. A low was formed near $26,026 and the price is now consolidating losses. It is trading just above the 23.6% Fib retracement level of ..

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