Bitcoin price vulnerable if it struggles below $28K.

The price of Bitcoin is facing difficulty in surpassing the resistance zone of $27,500. As a result, the value of BTC is decreasing, and there is a possibility of a significant drop towards $25,550 in the upcoming sessions. Bitcoin is still struggling to remain above the $27,000 support zone. Currently, it is trading below $27,200 and the 100 hourly Simple Moving Average. On the hourly chart of the BTC/USD pair, there was a break below a crucial bullish trend line with support near $27,100. The pair may revisit the $26,550 support and may continue to decrease.

Bitcoin price began a minor upside correction from the support zone of $26,550. BTC rose above the resistance zone of $27,000 along with the 100 hourly Simple Moving Average. However, the bears were active near the resistance zone of $27,500, and there was no convincing move above the $27,350 resistance zone. The value stayed below the 50% Fib retracement level of the key decline from the $28,450 swing high to the $26,571 low. The immediate resistance on the upside is near the $27,200 level and the 100 hourly Simple Moving Average. The main resistance sits near the $27,500 level. An upside break and close above $27,500 could start a decent increase towards $28,000.

If Bitcoin’s price fails to clear the resistance of $27,350, it could continue to move down. The immediate support on the downside is near the $26,800 level, followed by the major support zone near $26,550. Technical indicators suggest that the MACD is gaining pace in the bearish zone, and the RSI for BTC/USD is below the 50 level. The major support levels are $26,800, followed by $26,550, and the major resistance levels are $27,200, $27,350, and $27,500.