Bitcoin may crash below $25,400.

The value of Bitcoin is having difficulty staying above the $26,150 support level. If it breaks the crucial $25,400 support level soon, Bitcoin could experience another decrease in value.

  • Bitcoin is currently moving downwards below the $26,150 support zone.
  • The value of Bitcoin is currently trading below $26,000 and the 100 hourly Simple Moving Average.
  • There is a significant bearish trend line forming with resistance near $26,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • If there is a move below the $25,400 support zone, the pair could experience a decrease in value again.

Bitcoin Price Remains In Downtrend

The value of Bitcoin is struggling to remain above the $26,500 resistance zone. The value of Bitcoin declined below the $26,150 support level, causing it to move into a bearish zone.

The recent high was formed near $26,133, and the value is now decreasing. There was a break below the 50% Fibonacci retracement level of the upward move from the $25,400 swing low to the $26,133 high. The value also traded below the $25,750 support level.

Currently, Bitcoin is trading below $26,000 and the 100 hourly Simple Moving Average. There is also a vital bearish trend line forming with resistance near $26,000 on the hourly chart of the BTC/USD pair.

The value of Bitcoin seems to be holding at the $25,570 support level, which is close to the 76.4% Fibonacci retracement level of the upward move from the $25,400 swing low to the $26,133 high. The immediate resistance level is near the $26,000 level and the trend line region.

The first significant resistance level is near the $26,150 level. If there is a clear move above the $26,150 resistance level, it could cause a decent increase in the value of Bitcoin. The next major resistance level is near the $26,500 level, and if the value of Bitcoin closes above $26,500, it could cause the price to increase even further.

Source: BTCUSD on TradingView.com

The next crucial resistance level is near the $27,000 level. If Bitcoin rises above this level, it might rise towards the $27,500 resistance level. Any further gains above the $27,500 resistance zone could cause the value of Bitcoin to rise towards the $28,500 resistance zone.

More Losses in BTC?

If Bitcoin’s value fails to clear the $26,000 resistance level, it could continue to move downwards, resulting in another decrease in value. The immediate support level on the downside is near the $25,570 level.

The next significant support level is near the $25,400 level. If the value of Bitcoin falls below this level, it could accelerate its decrease in value. In this scenario, the value of Bitcoin could decrease towards the $25,000 support level in the near future.

Technical indicators:

Hourly MACD – The MACD is currently gaining momentum in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is below the 50 level.

Major Support Levels – $25,570, followed by $25,500.

Major Resistance Levels – $26,000, $26,150, and $26,500.

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