Bitcoin's (BTC) price is struggling to break past the $28,200 resistance level and is currently moving lower, potentially towards the $27,000 support zone. The price attempted to break above $28,200 but failed, and it is currently trading below $28,000 and the 100 hourly Simple Moving Average (SMA). On the hourly chart of the BTC/USD pair, a connecting bearish trend line has formed with resistance near $28,000. If the pair stays below $28,000 and $28,200, it could continue to move downwards.

Bitcoin's price began a recovery wave above the $27,800 level and cleared the $28,000 resistance zone, spiking above the 100 hourly SMA. However, the bears were active above the $28,200 resistance level, and the price tumbled to $27,000. The price is now consolidating after forming a low near $26,792, trading near the 50% Fib retracement level of the recent decline from the $28,334 swing high to the $26,792 low.

Immediate resistance is near the $27,750 level, followed by major resistance near the $28,000 level or the trend line. The main resistance is forming near the $28,200 level and the 100 hourly SMA. A close above the $28,200 resistance might initiate a decent increase, with the next key resistance near $28,500, above which the price might climb towards the $29,200 resistance.

If Bitcoin's price fails to clear the $28,000 resistance level, it could continue to move down. The immediate support level on the downside is near the $27,200 level, followed by major support near the $27,000 zone. In the stated case, it could revisit the $26,500 level, with any more losses potentially taking Bitcoin towards the $26,200 level in the near term. The MACD is now losing pace in the bearish zone, and the RSI for BTC/USD is now below the 50 level.