{"id":57230,"date":"2025-04-07T03:10:37","date_gmt":"2025-04-07T03:10:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=57230"},"modified":"2025-04-07T03:10:37","modified_gmt":"2025-04-07T03:10:37","slug":"bitcoin-price-crashes-hard-is-the-selloff-just-getting-started","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=57230","title":{"rendered":"Bitcoin Price Crashes Hard\u2014Is The Selloff Just Getting Started?"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $83,500 zone. BTC is consolidating losses and might start another decline below the $80,000 level.<\/em><\/p>\n

Bitcoin started a fresh decline below the $82,000 zone.
\nThe price is trading below $81,200 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support at $83,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $80,500 zone.<\/p>\n

Bitcoin Price Dips Below Support<\/h2>\n

Bitcoin price failed to settle above the $83,500 level and started a fresh decline<\/a>. BTC traded below the $83,000 ad $82,000 levels to enter a bearish zone.<\/p>\n

There was a break below a connecting bullish trend line with support at $83,000 on the hourly chart of the BTC\/USD pair. The pair even dived below the $80,000 support zone. A low was formed at $77,057 and the price started a recovery wave.<\/p>\n

There was a move above the $78,800 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $83,680 swing high to the $77,057 low. However, the price is struggling to continue higher.<\/p>\n

Bitcoin price is now trading below $81,500 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $80,000 level. The first key resistance is near the $80,500 level or the 50% Fib retracement level of the recent decline from the $83,680 swing high to the $77,057 low.<\/p>\n

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

The next key resistance could be $81,500. A close above the $81,500 resistance might send the price further higher. In the stated case, the price could rise and test the $82,500 resistance level. Any more gains might send the price toward the $83,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $80,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $77,500 level. The first major support is near the $77,000 level.<\/p>\n

The next support is now near the $76,500 zone. Any more losses might send the price toward the $75,000 support in the near term. The main support sits at $74,200.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $77,500, followed by $77,000.<\/p>\n

Major Resistance Levels \u2013 $80,000 and $80,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $83,500 zone. BTC is consolidating losses and might start another decline below the $80,000 level. Bitcoin started a fresh decline below the $82,000 zone. The price is trading below $81,200 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":57231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57230","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\/57230"}],"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=57230"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57230\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57231"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57230"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57230"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57230"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}