{"id":130776,"date":"2026-01-29T02:37:46","date_gmt":"2026-01-29T02:37:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=130776"},"modified":"2026-01-29T02:37:46","modified_gmt":"2026-01-29T02:37:46","slug":"bitcoin-price-backs-off-resistance-breakdown-or-brief-pause","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=130776","title":{"rendered":"Bitcoin Price Backs Off Resistance \u2014 Breakdown Or Brief Pause?"},"content":{"rendered":"

Bitcoin price started a recovery wave above $89,500 but failed above $90,000. BTC is declining and might dip further if it breaks $88,000.<\/em><\/p>\n

Bitcoin failed to remain above $90,000 and started another decline.
\nThe price is trading above $88,200 and the 100 hourly simple moving average.
\nThere is a rising channel forming with support at $88,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might dip further if it trades below the $88,000 and $87,500 levels.<\/p>\n

Bitcoin Price Faces Rejection<\/h2>\n

Bitcoin price remained stable above the $88,000 support<\/a>. BTC formed a base and recently started a recovery wave above the $88,500 level.<\/p>\n

The price climbed above the $89,000 and $89,500 levels. There was a move above the 76.4% Fib retracement level of the downward move from the $91,098 swing high to the $86,007 low. The bulls even pushed the price above $90,000 but they failed to keep the price in a positive zone.<\/p>\n

There was a fresh decline below $89,000. Bitcoin is now trading above $88,200 and the 100 hourly simple moving average. Besides, there is a rising channel forming with support at $88,100 on the hourly chart of the BTC\/USD pair.<\/p>\n

If the price remains stable above $88,000, it could attempt a fresh increase<\/a>. Immediate resistance is near the $89,150 level. The first key resistance is near the $89,800 level. A close above the $89,800 resistance might send the price further higher.<\/p>\n

<\/a><\/p>\n

In the stated case, the price could rise and test the $90,250 resistance. Any more gains might send the price toward the $91,200 level. The next barrier for the bulls could be $92,000 and $92,500.<\/p>\n

Another Rejection In BTC?<\/h2>\n

If Bitcoin fails to rise above the $89,150 resistance zone, it could start another decline. Immediate support is near the $88,200 level. The first major support is near the $88,000 level.<\/p>\n

The next support is now near the $87,200 zone. Any more losses might send the price toward the $87,000 support in the near term. The main support sits at $86,000, below which BTC might struggle to recover in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $88,200, followed by $87,000.<\/p>\n

Major Resistance Levels \u2013 $89,150 and $89,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a recovery wave above $89,500 but failed above $90,000. BTC is declining and might dip further if it breaks $88,000. Bitcoin failed to remain above $90,000 and started another decline. The price is trading above $88,200 and the 100 hourly simple moving average. There is a rising channel forming with support at […]<\/p>\n","protected":false},"author":0,"featured_media":130777,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-130776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/130776"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=130776"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/130776\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/130777"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}