{"id":132252,"date":"2026-02-04T02:47:26","date_gmt":"2026-02-04T02:47:26","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=132252"},"modified":"2026-02-04T02:47:26","modified_gmt":"2026-02-04T02:47:26","slug":"bitcoin-price-bounce-looks-hollow-downtrend-may-resume","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=132252","title":{"rendered":"Bitcoin Price Bounce Looks Hollow, Downtrend May Resume"},"content":{"rendered":"

Bitcoin price extended its decline below $75,000. BTC is now attempting to recover from $72,850 but faces many hurdles near $76,500.<\/em><\/p>\n

Bitcoin is attempting to recover above $74,000 and $75,000.
\nThe price is trading below $79,000 and the 100 hourly simple moving average.
\nThere is a bearish trend line forming with resistance at $77,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might dip again if it trades below the $75,000 and $74,000 levels.<\/p>\n

Bitcoin Price Faces Hurdles<\/h2>\n

Bitcoin price failed to remain stable above the $76,000 zone. BTC extended its decline<\/a> below the $75,000 and $74,000 levels. The bears were able to push the price below $73,500.<\/p>\n

A low was formed at $72,865, and the price is now attempting to recover. There was a move above $75,000. The price surpassed the 50% Fib retracement level of the downward move from the $79,120 swing high to the $72,865 low.<\/p>\n

However, the bears are active near $77,000 and the 61.8% Fib retracement level of the downward move<\/a> from the $79,120 swing high to the $72,865 low. Bitcoin is now trading below $77,000 and the 100 hourly simple moving average.<\/p>\n

If the price remains stable above $75,000, it could attempt a fresh increase. Immediate resistance is near the $76,750 level. The first key resistance is near the $77,000 level. There is also a bearish trend line forming with resistance at $77,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

A close above the $77,200 resistance might send the price further higher. In the stated case, the price could rise and test the $78,500 resistance. Any more gains might send the price toward the $79,000 level. The next barrier for the bulls could be $80,000 and $80,500.<\/p>\n

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

If Bitcoin fails to rise above the $77,200 resistance zone, it could start another decline. Immediate support is near the $75,000 level. The first major support is near the $74,000 level.<\/p>\n

The next support is now near the $72,850 zone. Any more losses might send the price toward the $71,500 support in the near term. The main support sits at $70,000, 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 $75,000, followed by $74,000.<\/p>\n

Major Resistance Levels \u2013 $76,750 and $77,200.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price extended its decline below $75,000. BTC is now attempting to recover from $72,850 but faces many hurdles near $76,500. Bitcoin is attempting to recover above $74,000 and $75,000. The price is trading below $79,000 and the 100 hourly simple moving average. There is a bearish trend line forming with resistance at $77,200 on […]<\/p>\n","protected":false},"author":0,"featured_media":132253,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-132252","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\/132252"}],"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=132252"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/132252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/132253"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=132252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=132252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=132252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}