Bitcoin is currently consolidating above the $25,500 support level and may see a fresh increase if it settles above the 100 hourly SMA and $26,150. The price is slowly moving higher from the support zone and trading below $26,000 and the 100 hourly Simple moving average.
A break above a major bearish trend line with resistance near $25,900 on the hourly chart of the BTC/USD pair could signal a recovery wave if there is a move above the $26,150 resistance. However, if Bitcoin fails to clear the $26,150 resistance, it could start another decline with immediate support on the downside near the $25,575 level.
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