If Bitcoin fails to continue higher above the $27,800 resistance, there could be more losses. Immediate support on the downside is near the $27,400 level.
The next major support is near the $27,200 level. A downside break and close below the $27,200 level might push the price further lower toward $26,800 in the near term. The next support sits at $26,200.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.
Major Support Levels – $27,400, followed by $27,200.
Major Resistance Levels – $27,800, $28,000, and $28,500.
The next major support is near the $27,200 level. A downside break and close below the $27,200 level might push the price further lower toward $26,800 in the near term. The next support sits at $26,200.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now near the 50 level.
Major Support Levels – $27,400, followed by $27,200.
Major Resistance Levels – $27,800, $28,000, and $28,500.
