{"id":56707,"date":"2025-04-04T02:35:31","date_gmt":"2025-04-04T02:35:31","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=56707"},"modified":"2025-04-04T02:35:31","modified_gmt":"2025-04-04T02:35:31","slug":"bitcoin-price-still-in-trouble-why-recovery-remains-elusive","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=56707","title":{"rendered":"Bitcoin Price Still In Trouble\u2014Why Recovery Remains Elusive"},"content":{"rendered":"

Bitcoin price started a recovery wave from the $81,200 zone. BTC is consolidating losses and facing hurdles near the $83,500 resistance level.<\/em><\/p>\n

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

Bitcoin Price Faces Resistance<\/h2>\n

Bitcoin price extended losses below the $82,500 support zone<\/a> and tested the $81,200 zone. BTC formed a base and recently started a decent recovery wave above the $82,200 resistance zone.<\/p>\n

The bulls were able to push the price above the $82,500 and $83,000 resistance levels. The price even tested the 23.6% Fib retracement level of the recent decline from the $89,042 swing high to the $81,177 low. However, the price is struggling to continue higher.<\/p>\n

Bitcoin price is now trading below $83,500 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $83,200 level. The first key resistance is near the $83,500 level. There is also a connecting bearish trend line forming with resistance at $83,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The next key resistance could be $84,500. A close above the $84,500 resistance might send the price further higher. In the stated case, the price could rise and test the $85,500 resistance level. Any more gains might send the price toward the $86,000 level or 61.8% Fib retracement level of the recent decline from the $89,042 swing high to the $81,177 low.<\/p>\n

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

If Bitcoin fails to rise above the $83,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $82,200 level. The first major support is near the $81,200 level.<\/p>\n

The next support is now near the $80,500 zone. 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 below the 50 level.<\/p>\n

Major Support Levels \u2013 $82,200, followed by $81,200.<\/p>\n

Major Resistance Levels \u2013 $83,500 and $85,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a recovery wave from the $81,200 zone. BTC is consolidating losses and facing hurdles near the $83,500 resistance level. Bitcoin started a decent recovery wave above the $82,200 zone. The price is trading below $83,200 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":56708,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56707","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\/56707"}],"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=56707"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/56708"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}