{"id":45066,"date":"2025-02-17T02:59:17","date_gmt":"2025-02-17T02:59:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=45066"},"modified":"2025-02-17T02:59:17","modified_gmt":"2025-02-17T02:59:17","slug":"bitcoin-price-falls-short-again-is-a-deeper-decline-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=45066","title":{"rendered":"Bitcoin Price Falls Short Again\u2014Is a Deeper Decline Coming?"},"content":{"rendered":"

Bitcoin price is struggling to clear the $100,000 resistance zone. BTC is again moving lower and might decline toward the $95,000 support.<\/em><\/p>\n

Bitcoin started a fresh decline from the $98,500 zone.
\nThe price is trading below $97,000 and the 100 hourly Simple moving average.
\nThere was a break below a major bullish trend line with support at $97,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $96,000 zone.<\/p>\n

Bitcoin Price Dips Again<\/h2>\n

Bitcoin price remained in a range above the $95,000 support level<\/a>. BTC started a decent increase above the $97,000 level, but it failed to clear the $98,800 resistance zone.<\/p>\n

A high was formed at $98,826 and the price is now moving lower. There was a move below the $97,000 and $96,500 support levels. The price dipped below the 50% Fib retracement level of the upward move from the $95,352 swing low to the $98,826 high.<\/p>\n

There was also a break below a major bullish trend line<\/a> with support at $97,500 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average.<\/p>\n

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

On the upside, immediate resistance is near the $96,800 level. The first key resistance is near the $97,000 level. The next key resistance could be $98,000. A close above the $98,000 resistance might send the price further higher. In the stated case, the price could rise and test the $98,800 resistance level. Any more gains might send the price toward the $100,000 level or even $100,500.<\/p>\n

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

If Bitcoin fails to rise above the $97,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,150 level or the 76.4% Fib retracement level of the upward move from the $95,352 swing low to the $98,826 high. The first major support is near the $95,500 level.<\/p>\n

The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,500 support in the near term. The main support sits at $92,200.<\/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 $96,000, followed by $95,000.<\/p>\n

Major Resistance Levels \u2013 $97,000 and $98,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is struggling to clear the $100,000 resistance zone. BTC is again moving lower and might decline toward the $95,000 support. Bitcoin started a fresh decline from the $98,500 zone. The price is trading below $97,000 and the 100 hourly Simple moving average. There was a break below a major bullish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":45067,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-45066","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\/45066"}],"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=45066"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/45066\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/45067"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}