{"id":58423,"date":"2025-04-11T02:24:35","date_gmt":"2025-04-11T02:24:35","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=58423"},"modified":"2025-04-11T02:24:35","modified_gmt":"2025-04-11T02:24:35","slug":"bitcoin-holds-the-line-but-can-it-bounce-back-or-break-lower","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=58423","title":{"rendered":"Bitcoin Holds The Line\u2014But Can It Bounce Back or Break Lower?"},"content":{"rendered":"

Bitcoin price started a fresh increase above the $80,000 zone. BTC is now correcting gains and might struggle to stay above the $79,500 support.<\/em><\/p>\n

Bitcoin started a fresh increase above the $80,000 zone.
\nThe price is trading above $79,500 and the 100 hourly Simple moving average.
\nThere is a new connecting bearish trend line forming with resistance at $80,500 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 Again<\/h2>\n

Bitcoin price started a fresh increase<\/a> above the $77,500 zone. BTC formed a base and gained pace for a move above the $79,500 and $80,000 resistance levels.<\/p>\n

The bulls pumped the price above the $82,500 resistance. A high was formed at $83,548 and the price recently started a downside correction. There was a move below the $81,500 support. The price dipped below the 23.6% Fib retracement level of the upward move from the $74,572 swing low to the $83,548 high.<\/p>\n

Bitcoin price is now trading above $79,200 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $80,500 level. There is also a new connecting bearish trend line forming with resistance at $80,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The first key resistance is near the $81,500 level. 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

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $80,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $79,500 level. The first major support is near the $79,000 level and the 50% Fib retracement level of the upward move from the $74,572 swing low to the $83,548 high.<\/p>\n

The next support is now near the $78,000 zone. Any more losses might send the price toward the $76,500 support in the near term. The main support sits at $75,000.<\/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 $79,500, followed by $79,000.<\/p>\n

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

Bitcoin price started a fresh increase above the $80,000 zone. BTC is now correcting gains and might struggle to stay above the $79,500 support. Bitcoin started a fresh increase above the $80,000 zone. The price is trading above $79,500 and the 100 hourly Simple moving average. There is a new connecting bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":58424,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58423","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\/58423"}],"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=58423"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58423\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/58424"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}