{"id":59568,"date":"2025-04-16T02:57:25","date_gmt":"2025-04-16T02:57:25","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=59568"},"modified":"2025-04-16T02:57:25","modified_gmt":"2025-04-16T02:57:25","slug":"bitcoin-price-on-the-brink-signs-point-to-renewed-decline","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=59568","title":{"rendered":"Bitcoin Price on The Brink? Signs Point to Renewed Decline"},"content":{"rendered":"

Bitcoin price started a fresh decline from the $86,500 zone. BTC is now consolidating and might continue to decline below the $83,200 support.<\/em><\/p>\n

Bitcoin started a fresh decline from the $86,500 zone.
\nThe price is trading below $85,000 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support at $84,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $84,500 zone.<\/p>\n

Bitcoin Price Faces Rejection<\/h2>\n

Bitcoin price started a fresh increase<\/a> above the $83,500 zone. BTC formed a base and gained pace for a move above the $84,000 and $85,500 resistance levels.<\/p>\n

The bulls pumped the price above the $86,000 resistance. A high was formed at $86,401 and the price recently corrected some gains. There was a move below the $85,000 support. Besides, there was a break below a connecting bullish trend line with support at $84,500 on the hourly chart of the BTC\/USD pair.<\/p>\n

The price tested the $83,200 support. Bitcoin price is now trading below $85,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $84,000 level and the 23.6% Fib retracement level of the downward move from the $86,401 swing high to the $83,171 low.<\/p>\n

The first key resistance is near the $84,500 level. The next key resistance could be $84,750 and the 50% Fib retracement level of the downward move from the $86,401 swing high to the $83,171 low.<\/p>\n

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

A close above the $84,750 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 $86,400 level.<\/p>\n

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

If Bitcoin fails to rise above the $85,000 resistance zone, it could start another decline. Immediate support on the downside is near the $83,500 level. The first major support is near the $83,200 level.<\/p>\n

The next support is now near the $82,200 zone. Any more losses might send the price toward the $81,500 support in the near term. The main support sits at $80,800.<\/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 $83,200, followed by $82,200.<\/p>\n

Major Resistance Levels \u2013 $84,750 and $85,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline from the $86,500 zone. BTC is now consolidating and might continue to decline below the $83,200 support. Bitcoin started a fresh decline from the $86,500 zone. The price is trading below $85,000 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":59569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-59568","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\/59568"}],"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=59568"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/59568\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/59569"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}