The price of Bitcoin has been stated to be facing resistance on its mark of $27,300 area against the USD while it is expected to correct lower to $26,000 or $25,500 in the near future. The price of Bitcoin shoots 50% Fib retracement level of the downward move from right to a high of $28,388 to a low of $25,782. However, bitcoin made its base on the $26,500 support with an average of 100 hourly simple moving. Even though with bearish indications, bitcoin is holding its support of $26,500, while many are hoping for a bullish line with its support of $26,500 on the hourly chart of the BTC/USD pair. Any more downward would just put a risk at the 100 hourly SMA and $25,800 while the key hurdle places right now at $28,200 and $28,400.