{"id":20958,"date":"2023-05-15T15:57:04","date_gmt":"2023-05-15T15:57:04","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bad-news-for-btc-if-this-happens\/"},"modified":"2023-05-15T15:57:04","modified_gmt":"2023-05-15T15:57:04","slug":"bad-news-for-btc-if-this-happens","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bad-news-for-btc-if-this-happens\/","title":{"rendered":"Bad news for BTC if this happens"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684158858538-952b865c-2e0d-4f2d-a7e5-5f5f3237a813-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684158858538-952b865c-2e0d-4f2d-a7e5-5f5f3237a813-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684158858538-952b865c-2e0d-4f2d-a7e5-5f5f3237a813-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/05\/1684158858538-952b865c-2e0d-4f2d-a7e5-5f5f3237a813-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Bitcoin price has recovered from its dip to $25,800, with price currently above $27,400.<\/li>\n<li dir=\"ltr\">BTC could continue to bounce into the $28,000-$30,000 range as broader market sentiment improves.<\/li>\n<li dir=\"ltr\">However, an analyst\u2019s Bitcoin price prediction suggests bad news for BTC if $27,600 becomes new resistance level.<\/li>\n<\/ul>\n<p dir=\"ltr\">The price of <a href=\"https:\/\/coinjournal.net\/bitcoin\/\">Bitcoin<\/a> as of May 15, 2023 9:50 am ET is $27,405, with BTC up 2% in the past 24 hours. 911.81. While Bitcoin could yet break above a key resistance level and target old support above $28,000, a popular crypto analyst says failing to breach the said supply wall could see the digital gold retreat to a closely watched support level.<\/p>\n<h2 dir=\"ltr\">Analyst shares Bitcoin price prediction as markets eye new bounce<\/h2>\n<p dir=\"ltr\">The outlook for Bitcoin is however still broadly bullish long term, particularly after the crypto sector navigated the collapse of FTX. The current US regulatory environment remains a key concern for the ecosystem though and this as well as continued correlation with the stock market could prove another wobbly trajectory for crypto prices.<\/p>\n<p dir=\"ltr\">According to crypto analyst Rekt Capital, Bitcoin price could dip past the largely anticipated buffer zone at $25,000 if current levels don\u2019t hold.\u00a0<\/p>\n<p dir=\"ltr\">Although the <a href=\"https:\/\/coinjournal.net\/news\/tag\/stock-markets\/\">stock market<\/a> looks poised for gains as investors see a debt limit deal and inflation fears across corporate America easing, a flip in sentiment both in the equities and in crypto could send BTC below $25k.<\/p>\n<p dir=\"ltr\">Rekt thinks the flagship crypto\u2019s price could fall to the $20,000 level. He <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1658007738553872386\" rel=\"noopener noreferrer\" target=\"_blank\">tweeted<\/a> early Monday as BTC\/USD bounced from lows of $25,800:<\/p>\n<p dir=\"ltr\">\u201c<em>First, #BTC failed to reclaim the $28800 level on the Weekly (orange). And then $BTC Weekly Closed below $27600, failing to hold it as support (black). Turn $27600 into resistance and this could enable further downside into the low $20,000s<\/em>.\u201d<\/p>\n<p dir=\"ltr\">The analyst explained his Bitcoin price prediction further in another <a href=\"https:\/\/twitter.com\/rektcapital\/status\/1657992603122671617\">tweet<\/a>.<\/p>\n<p dir=\"ltr\">\u201c<em>The problem with this #BTC bounce is that it is occurring after a Weekly Close below black support. Such a 1W close is setting BTC up for more downside especially if this rebound is a relief rally. Reject at $27570 (black) would likely force more downside<\/em>,\u201d he noted.<\/p>\n<p dir=\"ltr\">Below is the analyst\u2019s<a href=\"https:\/\/twitter.com\/rektcapital\/status\/1658007738553872386\/photo\/1\" rel=\"noopener noreferrer\" target=\"_blank\">\u00a0<u>chart<\/u><\/a> highlighting the price levels, with potential downside wicks beyond the multi-month support line.<\/p>\n<div class=\"fr-img-space-wrap\"><span class=\"fr-img-caption fr-fic fr-dib fr-draggable\" style=\"width: 700px\"><span class=\"fr-img-wrap\"><\/p>\n<p dir=\"ltr\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/media.igms.io\/2023\/04\/15\/1684158225785-2cd33c36-f5c7-4a7b-9532-61760b829bf4.jpg\" style=\"width: 700px\" class=\"fr-fic fr-dib\" width=\"700\" height=\"435\"\/><span class=\"fr-inner\">Bitcoin price prediction on the weekly chart. Source: Rekt Capital on Twitter<\/span><\/p>\n<p><\/span><\/span><\/p>\n<p class=\"fr-img-space-wrap2\">On the upside, the key challenge would be around $28,800. Consolidation is likely between $28k and $30k. Above that lies the supply zone near $33,000.<\/p>\n<\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/bitcoin-price-prediction-analysts-btc-forecast-amid-bulls-attempts-to-reclaim-key-area\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Bitcoin price has recovered from its dip to $25,800, with price currently above $27,400. BTC could continue to bounce into the $28,000-$30,000 range as broader market sentiment improves. However, an analyst\u2019s Bitcoin price prediction suggests bad news for BTC if $27,600 becomes new [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":20959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20958"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=20958"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/20958\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/20959"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=20958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=20958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=20958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}