The current value of Bitcoin is $27,546.38 USD and it has been traded for $11,407,579,736 USD in the past 24 hours. Over this time period, Bitcoin has decreased by 0.22%. Bitcoin is currently ranked #1 on CoinMarketCap with a total market cap of $537,255,600,783 USD.

The circulating supply of Bitcoin is 19,503,675 BTC coins and the maximum supply is 21,000,000 BTC coins.

The value of Bitcoin has recently experienced a decline, falling below $28,000 and testing the $27,200 support level.

  • It is currently trading below $27,500 and the 100 hourly Simple moving average, with a short-term bearish trend line forming with resistance near $27,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • Unless there is a move below the $26,650 support, the pair could potentially begin to see another increase in the near future.

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Bitcoin attempted to break above the $28,500 resistance but was unsuccessful, resulting in a short-term top and a recent correction below the $28,000 level. The price has dropped below the $27,500 level and the 100 hourly Simple moving average, and is currently testing the $27,200 support zone.

However, there are few indications of further losses as the price consolidates at around $27,189. On the hourly chart of the BTC/USD pair, a short-term bearish trend line is forming with resistance near $27,500.

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BTC/USD price chart – source: trading view

The following key resistance could be near the $27,880 level or the 50% Fib retracement level of the recent decline. If the price manages to close above the $27,880 resistance, it could potentially climb towards the $28,500 resistance and possibly even the $29,200 level.

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Should Bitcoin fail to surpass the resistance level at $27,500, further downward movement may occur. The immediate support level is around $27,200, followed by a major support level at $27,000.

The most crucial support level is presently at $26,800, and if the price falls below it and closes, it may drop to $26,200. The following support level is at $26,000.


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