{"id":56424,"date":"2025-04-03T02:40:09","date_gmt":"2025-04-03T02:40:09","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=56424"},"modified":"2025-04-03T02:40:09","modified_gmt":"2025-04-03T02:40:09","slug":"bitcoin-price-swings-wildly-yet-bears-keep-the-upper-hand","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=56424","title":{"rendered":"Bitcoin Price Swings Wildly\u2014Yet Bears Keep the Upper Hand!"},"content":{"rendered":"

Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone.<\/em><\/p>\n

Bitcoin started a decent recovery wave above the $84,500 zone.
\nThe price is trading near $83,500 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $82,200 zone.<\/p>\n

Bitcoin Price Dips Sharply<\/h2>\n

Bitcoin price managed to stay above the $82,500 support zone. BTC formed a base and recently started a decent recovery wave<\/a> above the $83,500 resistance zone.<\/p>\n

The bulls were able to push the price above the $84,500 and $85,500 resistance levels. The price even climbed above the $88,000 resistance. A high was formed at $89,042 and the price started a sharp decline. There was a drop below the $86,000 and $85,000 levels.<\/p>\n

There was a break below a connecting bullish trend line with support at $85,000 on the hourly chart of the BTC\/USD pair. A low was formed at $82,141 and the price is now consolidating near the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low.<\/p>\n

Bitcoin price is now trading near $83,500 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $84,000 level. The first key resistance is near the $85,000 level.<\/p>\n

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

The next key resistance could be $85,550 and the 50% Fib retracement level of the recent decline from the $89,042 swing high to the $82,141 low. A close above the $85,550 resistance might send the price further higher. In the stated case, the price could rise and test the $86,800 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 $82,800 level. The first major support is near the $82,200 level.<\/p>\n

The next support is now near the $81,350 zone. Any more losses might send the price toward the $80,500 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 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 $82,800, followed by $82,200.<\/p>\n

Major Resistance Levels \u2013 $84,200 and $85,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a recovery wave above the $85,500 zone. BTC is trimming all gains and might decline again toward the $80,000 zone. Bitcoin started a decent recovery wave above the $84,500 zone. The price is trading near $83,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend […]<\/p>\n","protected":false},"author":0,"featured_media":56425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56424","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\/56424"}],"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=56424"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/56425"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}