Bitcoin has remained above the 20-day EMA ($26,394) since September 14, showing that the bulls have turned this level into support. The buyers are trying to consolidate their positions further by pushing the price above the 50-day SMA ($27,255).
The bears are expected to mount a strong challenge in the zone between the 50-day SMA and the resistance at $28,143. If the price declines sharply from this zone, it would suggest that the BTC/USDT pair could remain range-bound between $24,800 and $28,143 for a few more days.
On the other hand, if the bulls push the price above $28,143, it would pave the way for a rally to $30,000 USD and above it to $31,000.
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Bitcoin has remained above the 20-day EMA ($26,394) since September 14, showing that the bulls have turned this level into support. The buyers are trying to consolidate their positions further by pushing the price above the 50-day SMA ($27,255).
The bears are expected to mount a strong challenge in the zone between the 50-day SMA and the resistance at $28,143. If the price declines sharply from this zone, it would suggest that the BTC/USDT pair could remain range-bound between $24,800 and $28,143 for a few more days.
On the other hand, if the bulls push the price above $28,143, it would pave the way for a rally to $30,000 USD and above it to $31,000.
Overall, time is running out for the bears. If they want to regain control, they will have to quickly pull the price back below the 20-day EMA.
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