{"id":62394,"date":"2025-04-28T02:36:08","date_gmt":"2025-04-28T02:36:08","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=62394"},"modified":"2025-04-28T02:36:08","modified_gmt":"2025-04-28T02:36:08","slug":"bitcoin-price-sees-short-term-dip-bulls-plot-their-next-move","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=62394","title":{"rendered":"Bitcoin Price Sees Short-Term Dip \u2014 Bulls Plot Their Next Move"},"content":{"rendered":"

Bitcoin price is correcting gains from the $95,000 zone. BTC is back below $94,000 and might test the $91,200 support zone in the near term.<\/em><\/p>\n

Bitcoin started a minor downside correction below the $94,000 zone.
\nThe price is trading below $94,000 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $94,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $94,200 zone.<\/p>\n

Bitcoin Price Starts Downside Correction<\/h2>\n

Bitcoin price remained stable above the $90,000 level and started a fresh increase<\/a>. BTC was able to climb above the $91,500 and $94,000 resistance levels.<\/p>\n

The bulls were able to pump the price above the $94,500 resistance. The recent high was formed at $95,348 and the price started a downside correction. There was a drop below the $94,500 and $94,000 levels. A low was formed at $92,900 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $95,348 swing high to the $92,900 low.<\/p>\n

Bitcoin price is now trading below $94,000 and the 100 hourly Simple moving average<\/a>. There is also a connecting bearish trend line forming with resistance at $94,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, immediate resistance is near the $93,650 level. The first key resistance is near the $94,000 level. The next key resistance could be $94,150 and the 50% Fib retracement level of the downward move from the $95,348 swing high to the $92,900 low.<\/p>\n

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

A close above the $94,150 resistance might send the price further higher. In the stated case, the price could rise and test the $94,500 resistance level. Any more gains might send the price toward the $95,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $94,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $92,800 level. The first major support is near the $92,000 level.<\/p>\n

The next support is now near the $91,500 zone. Any more losses might send the price toward the $90,500 support in the near term. The main support sits at $90,000.<\/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 $92,800, followed by $92,000.<\/p>\n

Major Resistance Levels \u2013 $94,000 and $94,150.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is correcting gains from the $95,000 zone. BTC is back below $94,000 and might test the $91,200 support zone in the near term. Bitcoin started a minor downside correction below the $94,000 zone. The price is trading below $94,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":62395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-62394","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\/62394"}],"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=62394"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/62394\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/62395"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}