{"id":38266,"date":"2025-01-23T02:50:56","date_gmt":"2025-01-23T02:50:56","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38266"},"modified":"2025-01-23T02:50:56","modified_gmt":"2025-01-23T02:50:56","slug":"bitcoin-price-slides-once-more-can-bulls-defend-key-levels","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38266","title":{"rendered":"Bitcoin Price Slides Once More: Can Bulls Defend Key Levels?"},"content":{"rendered":"

Bitcoin price struggled to clear the $107,200 resistance zone. BTC is correcting gains and might revisit the $100,000 support zone.<\/em><\/p>\n

Bitcoin started a downside correction from the $107,200 zone.
\nThe price is trading below $104,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance at $103,650 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $100,500 support zone.<\/p>\n

Bitcoin Price Dips Again<\/h2>\n

Bitcoin price started a decent upward<\/a> move above the $103,500 zone. BTC was able to climb above the $104,500 and $105,000 levels.<\/p>\n

The bulls even pushed the price above the $106,000 level. However, the bears were active near the $107,200 zone. A high was formed at $107,200 and the price is now correcting gains. There was a move below the $105,000 level.<\/p>\n

There was a move below the 50% Fib retracement level of the upward move from the $100,114 swing low to the $107,200 high. Bitcoin price is now trading below $104,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $103,000 level. The first key resistance is near the $103,500 level. There is also a key bearish trend line forming with resistance at $103,650 on the hourly chart of the BTC\/USD pair. A clear move above the $103,650 resistance might send the price higher. The next key resistance could be $104,500.<\/p>\n

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

A close above the $104,500 resistance might send the price further higher. In the stated case, the price could rise and test the $107,200 resistance level and a new all-time high. Any more gains might send the price toward the $112,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $104,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $101,750 level or the 76.4% Fib retracement level of the upward move from the $100,114 swing low to the $107,200 high. The first major support is near the $100,500 level.<\/p>\n

The next support is now near the $100,000 zone. Any more losses might send the price toward the $88,500 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 $101,650, followed by $100,500.<\/p>\n

Major Resistance Levels \u2013 $103,650 and $104,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price struggled to clear the $107,200 resistance zone. BTC is correcting gains and might revisit the $100,000 support zone. Bitcoin started a downside correction from the $107,200 zone. The price is trading below $104,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $103,650 on […]<\/p>\n","protected":false},"author":0,"featured_media":38267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38266","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\/38266"}],"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=38266"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38267"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}