{"id":49958,"date":"2025-03-06T02:52:29","date_gmt":"2025-03-06T02:52:29","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=49958"},"modified":"2025-03-06T02:52:29","modified_gmt":"2025-03-06T02:52:29","slug":"bitcoin-price-attempts-a-comeback-is-a-recovery-rally-on-the-horizon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=49958","title":{"rendered":"Bitcoin Price Attempts a Comeback\u2014Is a Recovery Rally on the Horizon?"},"content":{"rendered":"

Bitcoin price started a recovery wave from the $82,000 zone. BTC is back above $88,500 and might revisit the $95,000 resistance zone.<\/em><\/p>\n

Bitcoin started a fresh upward move from the $82,000 zone.
\nThe price is trading above $90,000 and the 100 hourly Simple moving average.
\nThere was a break above a connecting bearish trend line with resistance at $90,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another decline if it fails to clear the $95,000 resistance zone.<\/p>\n

Bitcoin Price Starts Recovery<\/h2>\n

Bitcoin price started a fresh decline below the $92,000 level<\/a>. BTC traded below the $90,000 and $88,000 support levels. Finally, the price tested the $82,000 support zone.<\/p>\n

A low was formed at $81,434 and the price recently started a recovery wave. There was a move above the $85,000 and $88,000 resistance levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $95,000 resistance to the $81,434 low.<\/p>\n

There was also a break above a connecting bearish trend line with resistance at $90,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $90,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $91,800 level or the 76.4% Fib retracement level of the downward move from the $95,000 resistance to the $81,434 low. The first key resistance is near the $92,500 level. The next key resistance could be $93,500.<\/p>\n

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

A close above the $93,500 resistance might send the price further higher. In the stated case, the price could rise and test the $95,000 resistance level. Any more gains might send the price toward the $96,200 level or even $98,000.<\/p>\n

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

If Bitcoin fails to rise above the $92,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $88,000 level. The first major support is near the $86,200 level.<\/p>\n

The next support is now near the $85,000 zone. Any more losses might send the price toward the $82,000 support in the near term. The main support sits at $80,000.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish 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 $88,000, followed by $85,000.<\/p>\n

Major Resistance Levels \u2013 $92,000 and $93,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a recovery wave from the $82,000 zone. BTC is back above $88,500 and might revisit the $95,000 resistance zone. Bitcoin started a fresh upward move from the $82,000 zone. The price is trading above $90,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":49959,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49958","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\/49958"}],"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=49958"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49958\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/49959"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}