{"id":48421,"date":"2025-02-28T02:45:36","date_gmt":"2025-02-28T02:45:36","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=48421"},"modified":"2025-02-28T02:45:36","modified_gmt":"2025-02-28T02:45:36","slug":"market-jitters-bitcoin-dives-80k-breakout-in-jeopardy","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=48421","title":{"rendered":"Market Jitters: Bitcoin Dives, $80K Breakout in Jeopardy"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $85,000 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 $86,500 zone.
\nThe price is trading below $82,500 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $83,800 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 $85,000 zone.<\/p>\n

Bitcoin Price Dips Sharply<\/h2>\n

Bitcoin price failed to stay above the $88,500 level and started a fresh decline<\/a>. BTC declined heavily below the $86,500 and $85,000 support levels.<\/p>\n

The price even dived below the $82,000 level. It tested the $80,000 zone. A low was formed at $80,000 and the price is now consolidating losses. It is showing many bearish signs below the 23.6% Fib retracement level of the downward wave from the $86,934 swing high to the $80,000 low.<\/p>\n

Bitcoin price is now trading below $82,200 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $81,650 level. The first key resistance is near the $83,500 level or the 50% Fib retracement level of the downward wave from the $86,934 swing high to the $80,000 low.<\/p>\n

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

There is also a connecting bearish trend line forming with resistance at $83,800 on the hourly chart of the BTC\/USD pair. The next key resistance could be $85,000. A close above the $85,000 resistance might send the price further higher. In the stated case, the price could rise and test the $86,500 resistance level. Any more gains might send the price toward the $88,000 level or even $88,500.<\/p>\n

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

If Bitcoin fails to rise above the $85,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $80,000 level. The first major support is near the $78,500 level.<\/p>\n

The next support is now near the $76,200 zone. Any more losses might send the price toward the $75,000 support in the near term. The main support sits at $73,500.<\/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 $80,000, followed by $78,500.<\/p>\n

Major Resistance Levels \u2013 $83,800 and $85,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $85,000 support. BTC must stay above the $80,000 zone to avoid more losses in the near term. Bitcoin started a fresh decline from the $86,500 zone. The price is trading below $82,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":48422,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-48421","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\/48421"}],"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=48421"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/48421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/48422"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}