Bitcoin Bounces Back, But Stalls Just Below $26,500

Bitcoin Bounces Back, But Stalls Just Below $26,500

Digital currency Analysts Report Bitcoin (BTC) Price Growing as Key Support Level is Recaptured

The price of Bitcoin (BTC) is on the rise as it recaptures the critical level of support of $26,000, according to digital currency analysts. Despite the fact that facing resistance at the recent high, the price remains over the 21-day line simple moving average (SMA) but below the 50-day line SMA. The uptrend will continue if the 21-day line SMA holds. Nonetheless, buyers have been unable to keep the digital currency over the $26,500 level.

The Mining Strategy They Don’t Want You To Know

If the present barrier is broken, Bitcoin (BTC) will cross the moving average lines and reach its record-breaking peak of $28,000. Conversely, if the recent resistance level isn’t broken, the price will decline and trade sideways between $26,000 and $26,500. Currently, BTC/USD is currently worth $26,260.

Bitcoin (BTC) Indicator Display

Regardless of the recent rise, Bitcoin (BTC) remains in a downtrend. The Relative Strength Index (RSI) for period 14 is at level 43, and the price bars are over the moving average lines, suggesting a probable uptrend resumption. Bitcoin (BTC) is as of now in an uptrend but has entered the overbought zone, as it is over the daily stochastic level of 80.

Coinbase, the Leading Crypto Exchange, Holds Approximately $25 Billion Worth of Bitcoin (BTC) Reserves, Reports Arkham Analytics

Technical Indicators

Key resistance levels for Bitcoin (BTC) are $30,000 and $35,000, while key support levels are $20,000 and $15,000.

What’s Next for BTC/USD?

Bitcoin (BTC) has regained its positive trend momentum but is still trading below the $26,500 level. The recent uptrend ended at the high of $28,142, which was rejected. If the initial resistance is broken, the digital currency will continue to rise. Nonetheless, on September 1, the bears broke through critical support as Bitcoin (BTC) fell to a low of $25,342. It has since been moving over the $25,000 level of support during the previous five days.

Ripple Co-Founder Highlights UK as a Crypto-Friendly Hub for Financial Innovation
Author – Contributor at | Website

Cabel Dioli emerges as a luminary seamlessly blending the roles of crypto analyst, dedicated researcher, and editorial artisan. Within the dynamic expanse of digital currencies, Cabel’s insights resound like finely tuned notes, reaching minds with diverse inquisitiveness. His mastery in unraveling intricate threads of crypto intricacies harmonizes effortlessly with his editorial finesse, transforming complexity into a captivating symphony of comprehension.

Hong Kong Financial Regulator Takes Action Against JPEX ‘Wrong-Doers’
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.

Follow us

Latest Crypto News

Share via
Share via
Send this to a friend