{"id":48100,"date":"2025-02-27T02:39:44","date_gmt":"2025-02-27T02:39:44","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=48100"},"modified":"2025-02-27T02:39:44","modified_gmt":"2025-02-27T02:39:44","slug":"bitcoin-price-drops-again-is-80k-the-last-defense-for-bulls","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=48100","title":{"rendered":"Bitcoin Price Drops Again\u2014Is $80K the Last Defense for Bulls?"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $88,000 support. BTC must stay above the $80,000 zone to avoid more losses in the near term.<\/em><\/p>\n

Bitcoin started a fresh decline from the $92,500 zone.
\nThe price is trading below $88,000 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $86,150 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another decline if it fails to stay above the $82,000 zone.<\/p>\n

Bitcoin Price Dips Further<\/h2>\n

Bitcoin price failed to stay above the $92,500 level and started a fresh decline<\/a>. BTC declined heavily below the $90,000 and $88,000 support levels.<\/p>\n

The price even dived below the $85,000 level. It tested the $80,000 zone. A low was formed at $80,525 and the price is now consolidating losses. It is back above the $83,500 level and the 23.6% Fib retracement level of the downward move from the $89,203 swing high to the $80,525 low.<\/p>\n

Bitcoin price is now trading below $85,200 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $85,000 level or the 50% Fib retracement level of the downward move from the $89,203 swing high to the $80,525 low.<\/p>\n

The first key resistance is near the $85,500 level. There is also a connecting bearish trend line forming with resistance at $86,150 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The next key resistance could be $87,150. A close above the $87,150 resistance might send the price further higher. In the stated case, the price could rise and test the $88,500 resistance level. Any more gains might send the price toward the $90,000 level or even $90,500.<\/p>\n

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

If Bitcoin fails to rise above the $86,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $83,000 level. The first major support is near the $82,000 level.<\/p>\n

The next support is now near the $81,200 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.<\/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 $82,000, followed by $80,000.<\/p>\n

Major Resistance Levels \u2013 $85,000 and $86,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $88,000 support. BTC must stay above the $80,000 zone to avoid more losses in the near term. Bitcoin started a fresh decline from the $92,500 zone. The price is trading below $88,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":48101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48100","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\/48100"}],"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=48100"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/48101"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}