{"id":141545,"date":"2026-03-12T03:07:27","date_gmt":"2026-03-12T03:07:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=141545"},"modified":"2026-03-12T03:07:27","modified_gmt":"2026-03-12T03:07:27","slug":"bitcoin-price-rally-fades-market-braces-for-possible-downside","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=141545","title":{"rendered":"Bitcoin Price Rally Fades, Market Braces for Possible Downside"},"content":{"rendered":"

Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC is now consolidating and might decline again below $68,500.<\/em><\/p>\n

Bitcoin started a decent recovery wave above the $68,500 zone.
\nThe price is trading above $68,650 and the 100 hourly simple moving average.
\nThere is a key declining channel or a possible bullish flag forming with support at $68,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might dip again if it trades below the $68,400 and $68,000 levels.<\/p>\n

Bitcoin Price Faces Key Resistance<\/h2>\n

Bitcoin price remained elevated and extended its increase<\/a> above the $68,800 level. BTC climbed above the $69,500 and $70,000 resistance levels.<\/p>\n

The bulls pushed the price above the 61.8% Fib retracement level of the downward move from the $74,062 swing high to the $65,645 low. However, the bears are still active near $71,200. The price failed to extend gains and started a bearish wave below $70,000.<\/p>\n

Bitcoin is now trading above $68,800 and the 100 hourly simple moving average<\/a>. There is also a key declining channel or a possible bullish flag forming with support at $68,400 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

If the price remains stable above $68,400, it could attempt a fresh increase. Immediate resistance is near the $70,000 level. The first key resistance is near the $70,500 level. A close above the $70,500 resistance might send the price further higher. In the stated case, the price could rise and test the $71,200 resistance. Any more gains might send the price toward the $72,000 level or the 76.4% Fib retracement level of the downward move from the $74,062 swing high to the $65,646 low. The next barrier for the bulls could be $72,650.<\/p>\n

More Downside In BTC?<\/h2>\n

If Bitcoin fails to rise above the $70,500 resistance zone, it could start another decline. Immediate support is near the $68,800 level. The first major support is near the $68,400 level.<\/p>\n

The next support is now near the $68,000 zone. Any more losses might send the price toward the $67,250 support in the near term. The main support now sits at $66,500, 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 $68,400, followed by $68,000.<\/p>\n

Major Resistance Levels \u2013 $70,500 and $71,200.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC is now consolidating and might decline again below $68,500. Bitcoin started a decent recovery wave above the $68,500 zone. The price is trading above $68,650 and the 100 hourly simple moving average. There is a key declining channel or a possible bullish […]<\/p>\n","protected":false},"author":0,"featured_media":141546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-141545","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\/141545"}],"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=141545"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/141545\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/141546"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=141545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=141545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=141545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}