{"id":49652,"date":"2025-03-05T02:41:33","date_gmt":"2025-03-05T02:41:33","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=49652"},"modified":"2025-03-05T02:41:33","modified_gmt":"2025-03-05T02:41:33","slug":"bitcoin-price-holds-steady-after-drop-is-a-rebound-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=49652","title":{"rendered":"Bitcoin Price Holds Steady After Drop\u2014Is a Rebound Coming?"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $90,000 zone. BTC is back below $88,500 and might struggle to regain bullish momentum.<\/em><\/p>\n

Bitcoin started a fresh decline below the $92,000 zone.
\nThe price is trading below $90,000 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $91,000 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 Faces Resistance<\/h2>\n

Bitcoin price started a fresh decline from the $95,000 resistance level<\/a>. BTC traded below the $92,000 and $90,000 support levels. The price dived over 10% and traded below the $88,000 support zone.<\/p>\n

There was a clear move below the 50% Fib retracement level of the upward wave from the $84,500 swing low to the $95,000 high. Finally, the price tested the $82,000 support zone. A base was formed and the price is now recovering some losses above the $83,500 level.<\/p>\n

Bitcoin price is now trading below $90,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $88,750 level. The first key resistance is near the $90,000 level.<\/p>\n

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

The next key resistance could be $91,500. There is also a connecting bearish trend line forming with resistance at $91,000 on the hourly chart of the BTC\/USD pair. A close above the $91,500 resistance might send the price further higher. In the stated case, the price could rise and test the $93,000 resistance level. Any more gains might send the price toward the $94,200 level or even $95,000.<\/p>\n

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

If Bitcoin fails to rise above the $90,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $85,000 level. The first major support is near the $83,200 level.<\/p>\n

The next support is now near the $82,250 zone and the 76.4% Fib retracement level of the upward wave from the $84,500 swing low to the $95,000 high. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,800.<\/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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $85,000, followed by $82,250.<\/p>\n

Major Resistance Levels \u2013 $90,000 and $91,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $90,000 zone. BTC is back below $88,500 and might struggle to regain bullish momentum. Bitcoin started a fresh decline below the $92,000 zone. The price is trading below $90,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":49653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49652","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\/49652"}],"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=49652"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49652\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/49653"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}