Bitcoin price is showing bearish signs below the $28,000 resistance. BTC could start a decent recovery wave if it clears the $28,200 resistance and the 100 hourly Simple moving average. If not, it could retest the $27,000 support zone in the near term.
Currently, Bitcoin is trading below the $28,000 resistance and the 100 hourly Simple moving average. The key support is near the $27,000 level, and any further losses might take it towards the $26,500 support, below which an extended bearish move could be seen.
If the price surges above the $28,200 resistance, the bulls are likely to gain traction. The next key target for them is $29,200 and later towards $29,500. On the other hand, an initial resistance is near the $28,000 level and the 100 hourly Simple moving average.
Bitcoin price is currently trading below the key $28,000 and the 100 hourly Simple moving average. It is showing bearish signs and could revisit the $27,000 support zone. For a significant upward movement, Bitcoin needs to clear the $28,200 and $29,200 resistance levels in the coming sessions. If not, it could extend its decline to $26,500 support.
- Talia Ross
- 2023-05-11
Bitcoin Price Struggles to Get Above $28K
Bitcoin is trading below the $28,000 resistance and the 100 hourly Simple moving average. The key support is near the $27,000 level, and any further losses might take it towards the $26,500 support, below which an extended bearish move could be seen.