Do repost and rate:
Current Status:
- A bullish trend line around $26,200 and the 100-hourly SMA provide support.
Scenarios:
- Recovery Attempt: Bitcoin, currently above $26,200 and the 100-hourly SMA, faces immediate resistance at around $26,450. A successful break above this level could target $26,650 and $27,000.
- Sustained Recovery: To initiate a substantial recovery, Bitcoin must settle above $26,650, potentially aiming for $27,000 and $27,500.
- Downside Risk: Failing to breach $26,450 may lead to further declines. Initial support is at $26,200, coinciding with the trend line. A close below $26,000 could trigger a more significant decline toward $25,400 and even $25,000.
Bitcoin faces resistance at $26,500 and $26,700 as it recovers from the $26,000 support zone. Traders should watch for potential opportunities near $26,450 and the bullish trend line at $26,200.
