{"id":34606,"date":"2025-01-10T02:51:54","date_gmt":"2025-01-10T02:51:54","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=34606"},"modified":"2025-01-10T02:51:54","modified_gmt":"2025-01-10T02:51:54","slug":"bitcoin-price-under-pressure-btc-struggles-to-stay-afloat","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=34606","title":{"rendered":"Bitcoin Price Under Pressure: BTC Struggles to Stay Afloat"},"content":{"rendered":"

Bitcoin price extended losses and traded below the $93,500 zone. BTC is correcting gains and might struggle to recover above the $95,000 level.<\/em><\/p>\n

Bitcoin started a fresh decline from the $95,500 resistance zone.
\nThe price is trading below $95,000 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $91,200 support zone.<\/p>\n

Bitcoin Price Turns Red Below $95K<\/h2>\n

Bitcoin price failed to start a recovery wave above the $95,500 resistance<\/a>. BTC remained in a short-term bearish zone and extended losses below the $93,500 level.<\/p>\n

There was a clear move below the $92,000 support zone. The price even traded below $91,200. A low was formed at $91,168 and the price is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $102,761 swing high to the $91,168 low.<\/p>\n

Bitcoin price is now trading below $95,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $93,500 level. There is also a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

The first key resistance is near the $95,000 level. A clear move above the $95,000 resistance might send the price higher. The next key resistance could be $97,000 or the 50% Fib retracement level of the recent decline from the $102,761 swing high to the $91,168 low.<\/p>\n

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

A close above the $97,000 resistance might send the price further higher. In the stated case, the price could rise and test the $98,000 resistance level. Any more gains might send the price toward the $98,800 level.<\/p>\n

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

If Bitcoin fails to rise above the $95,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $92,500 level.<\/p>\n

The first major support is near the $92,000 level. The next support is now near the $91,200 zone. Any more losses might send the price toward the $90,000 support 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 $92,500, followed by $91,200.<\/p>\n

Major Resistance Levels \u2013 $93,500 and $95,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price extended losses and traded below the $93,500 zone. BTC is correcting gains and might struggle to recover above the $95,000 level. Bitcoin started a fresh decline from the $95,500 resistance zone. The price is trading below $95,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":34607,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-34606","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\/34606"}],"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=34606"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/34606\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/34607"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=34606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=34606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=34606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}