{"id":41123,"date":"2025-02-03T02:57:33","date_gmt":"2025-02-03T02:57:33","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=41123"},"modified":"2025-02-03T02:57:33","modified_gmt":"2025-02-03T02:57:33","slug":"bitcoin-price-nosedives-nearly-10-panic-or-buying-opportunity","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=41123","title":{"rendered":"Bitcoin Price Nosedives Nearly 10%: Panic or Buying Opportunity?"},"content":{"rendered":"

Bitcoin price started a fresh declined below the $100,000 zone. BTC is down close to 10% and might test the $90,000 support zone.<\/em><\/p>\n

Bitcoin started a fresh decline below the $100,000 level.
\nThe price is trading below $99,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance at $96,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $90,000 zone.<\/p>\n

Bitcoin Price Dives Below $100,000<\/h2>\n

Bitcoin price started another decline below the $100,000 zone. BTC gained bearish momentum for a move below the $98,000 and $95,000 levels. It even dived below $93,000.<\/p>\n

A low was formed at $90,944 and the price is now consolidating losses<\/a>. There was a minor increase above the $92,500 level. The price even tested the 23.6% Fib retracement level of the downward move from the $106,000 swing high to the $90,944 low. However, the bears are now active near the $95,000 zone.<\/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 $95,000 level. The first key resistance is near the $96,500 level. There is also a key bearish trend line forming with resistance at $96,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The next key resistance could be $98,400 or the 50% Fib retracement level of the downward move from the $106,000 swing high to the $90,944 low. A close above the $98,500 resistance might send the price further higher. In the stated case, the price could rise and test the $96,800 resistance level. Any more gains might send the price toward the $100,000 level.<\/p>\n

Another Decline 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. The first major support is near the $92,000 level.<\/p>\n

The next support is now near the $90,000 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 $92,500, followed by $90,000.<\/p>\n

Major Resistance Levels \u2013 $95,000 and $96,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh declined below the $100,000 zone. BTC is down close to 10% and might test the $90,000 support zone. Bitcoin started a fresh decline below the $100,000 level. The price is trading below $99,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":41124,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-41123","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\/41123"}],"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=41123"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/41123\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/41124"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}