{"id":23484,"date":"2024-11-26T02:37:36","date_gmt":"2024-11-26T02:37:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=23484"},"modified":"2024-11-26T02:37:36","modified_gmt":"2024-11-26T02:37:36","slug":"bitcoin-price-slips-below-95k-is-the-rally-losing-steam","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=23484","title":{"rendered":"Bitcoin Price Slips Below $95K: Is The Rally Losing Steam?"},"content":{"rendered":"

Bitcoin price is correcting gains below the $96,500 resistance. BTC is now trading below $95,000 and might face hurdles near the $95,750 resistance.<\/em><\/p>\n

Bitcoin started a downside correction from the $98,880 zone.
\nThe price is trading below $96,000 and the 100 hourly Simple moving average.
\nThere was a break above a short-term bearish trend line with resistance at $94,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $95,750 resistance zone.<\/p>\n

Bitcoin Price Corrects Gains<\/h2>\n

Bitcoin price struggled to extend gains<\/a> above the $98,800 and $99,000 levels. BTC started a downside correction below the $97,000 and $96,000 levels. It even dipped below $95,000.<\/p>\n

A low was formed at $92,550 and the price is now rising. There was a move above the $93,800 resistance level. The price cleared the 23.6% Fib retracement level of the downward move from the $98,880 swing high to the $92,550 low.<\/p>\n

Besides, there was a break above a short-term bearish trend line with resistance at $94,200 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below $96,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, the price could face resistance near the $95,200 level. The first key resistance is near the $95,750 level. It is close to the 50% Fib retracement level of the downward move from the $98,880 swing high to the $92,550 low.<\/p>\n

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

A clear move above the $95,750 resistance might send the price higher. The next key resistance could be $97,350. A close above the $97,350 resistance might initiate more gains. In the stated case, the price could rise and test the $98,880 resistance level. Any more gains might send the price toward the $100,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $95,750 resistance zone, it could start another downside correction. Immediate support on the downside is near the $93,800 level.<\/p>\n

The first major support is near the $92,500 level. The next support is now near the $90,000 zone. Any more losses might send the price toward the $88,000 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish 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 $93,800, followed by $92,500.<\/p>\n

Major Resistance Levels \u2013 $95,750, and $97,350.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is correcting gains below the $96,500 resistance. BTC is now trading below $95,000 and might face hurdles near the $95,750 resistance. Bitcoin started a downside correction from the $98,880 zone. The price is trading below $96,000 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":23485,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-23484","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\/23484"}],"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=23484"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/23484\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/23485"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23484"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23484"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23484"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}