{"id":57514,"date":"2025-04-08T02:51:13","date_gmt":"2025-04-08T02:51:13","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=57514"},"modified":"2025-04-08T02:51:13","modified_gmt":"2025-04-08T02:51:13","slug":"bitcoin-price-recovery-in-play-but-major-hurdles-loom-large","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=57514","title":{"rendered":"Bitcoin Price Recovery In Play\u2014But Major Hurdles Loom Large"},"content":{"rendered":"

Bitcoin price started a fresh decline below the $80,000 zone. BTC is now correcting losses and might face resistance near the $80,500 zone.<\/em><\/p>\n

Bitcoin started a fresh decline below the $80,000 zone.
\nThe price is trading below $81,500 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $80,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $81,500 zone.<\/p>\n

Bitcoin Price Starts Recovery<\/h2>\n

Bitcoin price started a fresh decline below the $82,000 and $81,200 levels. BTC traded below the $80,500 and $80,000 levels to enter a bearish zone<\/a>.<\/p>\n

The price even dived below the $78,000 support zone. A low was formed at $74,409 and the price started a recovery wave. There was a move above the $76,800 level. The price climbed above the 50% Fib retracement level of the recent decline from the $83,680 swing high to the $74,409 low.<\/p>\n

However, the price is struggling to continue higher. Bitcoin price is now trading below $81,200 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $80,400 level. There is also a connecting bearish trend line forming with resistance at $80,400 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The first key resistance is near the $81,500 level or the 76.4% Fib retracement level of the recent decline from the $83,680 swing high to the $74,409 low. The next key resistance could be $82,500. A close above the $82,500 resistance might send the price further higher. In the stated case, the price could rise and test the $83,500 resistance level. Any more gains might send the price toward the $85,000 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 $79,500 level. The first major support is near the $78,000 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 $74,400.<\/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 $79,500, followed by $78,000.<\/p>\n

Major Resistance Levels \u2013 $80,500 and $81,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline below the $80,000 zone. BTC is now correcting losses and might face resistance near the $80,500 zone. Bitcoin started a fresh decline below the $80,000 zone. The price is trading below $81,500 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":57515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-57514","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\/57514"}],"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=57514"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/57514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/57515"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}