Bitcoin drops below support, bears aim for $25K.

This is a technical analysis of the current state of Bitcoin’s price, which has decreased by 5% and is currently trading below $26,000. The article suggests that it is now at risk of moving toward the $25,000 support level in the near term. The article goes on to describe Bitcoin’s recent decline below the $27,000 level, its current trading below $26,500 and the 100 hourly Simple moving average, and the formation of a bearish trend line with resistance near $26,100. The article suggests that while the pair could correct higher, the upsides might be limited above $26,200 and $26,400.

The article also discusses the failure of Bitcoin’s price to start a fresh increase above the $27,000 resistance, and its fresh decline below the $26,500 support and the 100 hourly Simple moving average. The price is now down 5% and has moved below the $26,000 support level, with a retest of the $25,400 support zone. The article notes that Bitcoin is now facing resistance near the $25,900 level, with the next major resistance near the $26,100 level and the trend line.

The article includes a chart and suggests that the next key resistance is near the $26,700 level, with an upside break and close above $26,700 potentially starting a decent increase toward $27,200. However, if Bitcoin’s price fails to clear the $26,100 resistance, it could continue to move down, with immediate support on the downside near the $25,400 level and the next major support near the $25,000 zone.

The article also includes technical indicators such as the MACD and RSI, as well as major support and resistance levels. The source of the data is Kraken.