Bitcoin Price Corrects Sharply But This Support Might Spark Another Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin price rallied and even spiked above the $26,000 resistance. BTC corrected lower, but the bulls are active above the $24,000 support zone.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shenyangcang.com\/news\/bitcoin-price-corrects-sharply-24k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Corrects Sharply But This Support Might Spark Another Increase\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price rallied and even spiked above the $26,000 resistance. 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{"id":523122,"date":"2023-03-15T03:22:11","date_gmt":"2023-03-15T03:22:11","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=523122"},"modified":"2024-06-11T08:03:48","modified_gmt":"2024-06-11T08:03:48","slug":"bitcoin-price-corrects-sharply-24k","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/bitcoin-price-corrects-sharply-24k\/","title":{"rendered":"Bitcoin Price Corrects Sharply But This Support Might Spark Another Increase"},"content":{"rendered":"

Bitcoin price rallied and even spiked above the $26,000 resistance. BTC corrected lower, but the bulls are active above the $24,000 support zone.<\/em><\/p>\n

\n
Bitcoin started a strong increase above the $24,500 resistance zone.<\/li>\n
The price is trading above $24,000 and the 100 hourly simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n
The pair could start a fresh increase if it stays above the $24,000 support zone.<\/li>\n<\/ul>\n
Bitcoin Price Rejects $26.5K<\/h2>\n
Bitcoin price started a strong increase above the $24,000 resistance zone<\/a>. BTC even surpassed the $25,000 resistance to move further into a positive zone.<\/p>\n
Finally, the price spiked above the $26,000 and $26,200 resistance levels. A high was formed near $26,526 before there was a sharp downside correction. The price declined heavily below the $26,000 and $25,500 levels. It traded close to the $24,000 support zone.<\/p>\n
A low is formed near $24,051 and the price is now rising. Bitcoin price is trading above $24,000 and the 100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair.<\/p>\n
An immediate resistance is near the $25,300 level. It is near the 50% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low.<\/p>\n
$\"Bitcoin$ <\/a><\/p>\n
Source: BTCUSD on TradingView.com<\/a><\/p>\n
The next major resistance is near the $25,600 zone. It is near the 61.8% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low. A close above the $25,600 resistance might start a fresh increase towards the $26,000 resistance. The next key resistance is near the $26,500 zone, above which the price might gain bullish momentum and test $27,500.<\/p>\n
Dips Limited in BTC?<\/h2>\n
If bitcoin price fails to clear the $25,300 resistance, it could start another decline. An immediate support on the downside is near the $24,750 zone and the trend line.<\/p>\n
The next major support is near the $24,000 zone, below which the price gain bearish momentum. The next major support is near the $23,200 level. Any more losses might send the price towards the $22,500 level and the 100 hourly simple moving average.<\/p>\n
Technical indicators:<\/p>\n
Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n
Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n
Major Support Levels \u2013 $24,750, followed by $24,000.<\/p>\n
Major Resistance Levels \u2013 $25,300, $25,600 and $26,200.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price rallied and even spiked above the $26,000 resistance. BTC corrected lower, but the bulls are active above the $24,000 support zone. Bitcoin started a strong increase above the $24,500 resistance zone. The price is trading above $24,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could start a fresh increase if it stays above the $24,000 support zone. Bitcoin Price Rejects $26.5K Bitcoin price started a strong increase above the $24,000 resistance zone. BTC even surpassed the $25,000 resistance to move further into a positive zone. Finally, the price spiked above the $26,000 and $26,200 resistance levels. A high was formed near $26,526 before there was a sharp downside correction. The price declined heavily below the $26,000 and $25,500 levels. It traded close to the $24,000 support zone. A low is formed near $24,051 and the price is now rising. Bitcoin price is trading above $24,000 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $24,750 on the hourly chart of the BTC\/USD pair. An immediate resistance is near the $25,300 level. It is near the 50% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low. Source: BTCUSD on TradingView.com The next major resistance is near the $25,600 zone. It is near the 61.8% Fib retracement level of the recent decline from the $26,526 swing high to $24,051 low. A close above the $25,600 resistance might start a fresh increase towards the $26,000 resistance. The next key resistance is near the $26,500 zone, above which the price might gain bullish momentum and test $27,500. Dips Limited in BTC? If bitcoin price fails to clear the $25,300 resistance, it could start another decline. An immediate support on the downside is near the $24,750 zone and the trend line. The next major support is near the $24,000 zone, below which the price gain bearish momentum. The next major support is near the $23,200 level. Any more losses might send the price towards the $22,500 level and the 100 hourly simple moving average. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $24,750, followed by $24,000. Major Resistance Levels \u2013 $25,300, $25,600 and $26,200.<\/p>\n","protected":false},"author":67,"featured_media":458642,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,679,1144,78790,76835],"class_list":["post-523122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nBitcoin Price Corrects Sharply But This Support Might Spark Another Increase<\/title>\n<meta name=\"description\" content=\"Bitcoin price rallied and even spiked above the $26,000 resistance. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/shenyangcang.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Price Corrects Sharply But This Support Might Spark Another Increase","url":"http:\/\/shenyangcang.com\/news\/bitcoin-price-corrects-sharply-24k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/bitcoin-price-corrects-sharply-24k\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2021\/03\/Depositphotos_78872860_s-2019-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2021\/03\/Depositphotos_78872860_s-2019-1.jpg?fit=999%2C636"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btcusd","btcusdt","xbtusd"],"dateCreated":"2023-03-15T03:22:11Z","datePublished":"2023-03-15T03:22:11Z","dateModified":"2024-06-11T08:03:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Price Corrects Sharply But This Support Might Spark Another Increase\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-price-corrects-sharply-24k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/bitcoin-price-corrects-sharply-24k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Depositphotos_78872860_s-2019-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/Depositphotos_78872860_s-2019-1.jpg?fit=999%2C636\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btcusd\",\"btcusdt\",\"xbtusd\"],\"dateCreated\":\"2023-03-15T03:22:11Z\",\"datePublished\":\"2023-03-15T03:22:11Z\",\"dateModified\":\"2024-06-11T08:03:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2021\/03\/Depositphotos_78872860_s-2019-1.jpg?fit=999%2C636","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/523122"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=523122"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/523122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/458642"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=523122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=523122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=523122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}