{"id":45374,"date":"2025-02-18T02:55:06","date_gmt":"2025-02-18T02:55:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=45374"},"modified":"2025-02-18T02:55:06","modified_gmt":"2025-02-18T02:55:06","slug":"bitcoin-price-pulls-back-to-support-breakdown-or-bounce-ahead","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=45374","title":{"rendered":"Bitcoin Price Pulls Back to Support\u2014Breakdown or Bounce Ahead?"},"content":{"rendered":"

Bitcoin price started another decline below the $96,800 zone. BTC is retesting the $95,500 support zone and might struggle to recover losses.<\/em><\/p>\n

Bitcoin started a fresh decline from the $98,000 zone.
\nThe price is trading below $96,500 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance at $96,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $95,000 zone.<\/p>\n

Bitcoin Price Dips To Support<\/h2>\n

Bitcoin price failed to clear the $99,000 and $100,000 resistance levels<\/a>. BTC formed a top and started a fresh decline below the $97,000 level. There was a clear move below the $96,500 support level.<\/p>\n

The price even dipped below the $95,000 level. However, the bulls appeared near $95,200. A low was formed at $95,224 and the price is now attempting to recover. There was a move above the $96,000 level. The price cleared the 23.6% Fib retracement level of the downward move from the $98,826 swing high to the $95,224 low.<\/p>\n

Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $96,400 level. There is also a key bearish trend line forming with resistance at $96,400 on the hourly chart of the BTC\/USD pair.<\/p>\n

The first key resistance is near the $97,000 level or the 50% Fib retracement level of the downward move from the $98,826 swing high to the $95,224 low. The next key resistance could be $98,000.<\/p>\n

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

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 $95,500 level. The first major support is near the $95,200 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 losing 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 $95,500, followed by $95,000.<\/p>\n

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

Bitcoin price started another decline below the $96,800 zone. BTC is retesting the $95,500 support zone and might struggle to recover losses. Bitcoin started a fresh decline from the $98,000 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":45375,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-45374","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\/45374"}],"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=45374"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/45374\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/45375"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=45374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=45374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=45374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}