Bitcoin Price Technical Breakdown Could Take BTC Toward $25K

May 12, 2023 06:00 am Cryptocurrency 97
Bitcoin Price Technical Breakdown Could Take BTC Toward $25K

Bitcoin price is moving lower below the $28,000 level. BTC is at risk of a downside break toward the $25,000 support in the near term.


  • 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.

  • There are two bearish trend lines forming with resistance near $27,000 and $27,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).

  • The pair could continue to move down if it breaks the $26,750 support zone.

    • Bitcoin Price Extends Decline


    Bitcoin price failed to start a recovery wave above the $27,800 level. BTC remained in a bearish zone and settled below the $27,500 support zone.


    The bears were able to push the price below the $27,000 level. A low is formed near $26,720 and the price is now showing a lot of bearish signs. It is still trading below $27,500 and the bitcoin price technical breakdown could toward

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