Bitcoin Price Key Indicators Suggest A Strengthening Case For Bearish Break

Sep 11, 2023 04:00 am Cryptocurrency 116

Bitcoin price is struggling to recover above $26,500. BTC is clearly struggling and there is a risk of a downside break in the near term.

Bitcoin is facing a lot of hurdles above the $26,200 resistance zone.

The price is trading well below $26,000 and the 100 hourly Simple moving average.

There is a key bearish trend line forming with resistance near $25,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could take a major hit if there is a close below $25,350.

Bitcoin Price Remains At Risk

Bitcoin price remained in a bearish zone and all attempts to start a decent recovery failed. BTC peaked near $26,500 and started a fresh decline.

There was a close below the $26,000 pivot level. The price even spiked below $25,650. A base seems to be forming near the $25,600 level but upsides are still capped. The price is consolidating below the 23.6% ..

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