{"id":56147,"date":"2025-04-02T02:44:06","date_gmt":"2025-04-02T02:44:06","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=56147"},"modified":"2025-04-02T02:44:06","modified_gmt":"2025-04-02T02:44:06","slug":"bitcoin-price-bounces-back-can-it-finally-break-resistance","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=56147","title":{"rendered":"Bitcoin Price Bounces Back\u2014Can It Finally Break Resistance?"},"content":{"rendered":"

Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone.<\/em><\/p>\n

Bitcoin started a decent recovery wave above the $83,500 zone.
\nThe price is trading above $83,000 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $84,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $83,500 zone.<\/p>\n

Bitcoin Price Starts Recovery<\/h2>\n

Bitcoin price managed to stay above the $82,000 support zone<\/a>. BTC formed a base and recently started a decent recovery wave above the $82,500 resistance zone.<\/p>\n

The bulls were able to push the price above the $83,500 and $84,200 resistance levels. The price even climbed above the $85,000 resistance. A high was formed at $85,487 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $81,320 swing low to the $85,487 high.<\/p>\n

Bitcoin price is now trading above $83,500 and the 100 hourly Simple moving average<\/a>. There is also a connecting bullish trend line forming with support at $84,550 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

On the upside, immediate resistance is near the $85,200 level. The first key resistance is near the $85,500 level. The next key resistance could be $85,850. A close above the $85,850 resistance might send the price further higher. In the stated case, the price could rise and test the $86,650 resistance level. Any more gains might send the price toward the $88,000 level or even $88,500.<\/p>\n

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

If Bitcoin fails to rise above the $85,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $84,500 level and the trend line. The first major support is near the $83,500 level and the 50% Fib retracement level of the upward move from the $81,320 swing low to the $85,487 high.<\/p>\n

The next support is now near the $82,850 zone. Any more losses might send the price toward the $82,000 support in the near term. The main support sits at $80,500.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing 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 $84,500, followed by $83,500.<\/p>\n

Major Resistance Levels \u2013 $85,200 and $85,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500 zone. The price is trading above $83,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":56148,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56147","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\/56147"}],"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=56147"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56147\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/56148"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}