{"id":69971,"date":"2025-05-29T01:45:32","date_gmt":"2025-05-29T01:45:32","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=69971"},"modified":"2025-05-29T01:45:32","modified_gmt":"2025-05-29T01:45:32","slug":"bitcoin-price-touches-support-zone-will-buyers-step-in","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=69971","title":{"rendered":"Bitcoin Price Touches Support Zone \u2014 Will Buyers Step In?"},"content":{"rendered":"

Bitcoin price started a fresh decline and tested the $106,800 zone. BTC is now consolidating and might aim for a move above $108,500<\/em><\/p>\n

Bitcoin started a fresh decline below the $108,500 zone.
\nThe price is trading below $108,000 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $108,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $108,500 resistance.<\/p>\n

Bitcoin Price Hits Support<\/h2>\n

Bitcoin price started a fresh decline<\/a> and traded below the $108,500 support zone. BTC even traded below the $107,400 level and tested the next support at $106,800.<\/p>\n

A low was formed at $106,800 and the price is now recovering. There was a move above the $107,500 level. The price surpassed the 23.6% Fib retracement level of the recent decline from the $110,500 swing high to the $106,805 low.<\/p>\n

Bitcoin is now trading below $108,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $108,000 level. There is also a key bearish trend line forming with resistance at $108,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

The first key resistance is near the $108,650 level. It is close to the 50% Fib level of the recent decline from the $110,500 swing high to the $106,805 low. The next key resistance could be $109,000.<\/p>\n

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

A close above the $109,000 resistance might send the price further higher. In the stated case, the price could rise and test the $110,000 resistance level. Any more gains might send the price toward the $112,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $108,500 resistance zone, it could start another correction. Immediate support on is near the $107,200 level. The first major support is near the $106,800 level.<\/p>\n

The next support is now near the $106,000 zone. Any more losses might send the price toward the $105,000 support in the near term. The main support sits at $103,500, below which BTC might gain bearish momentum.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing 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 $107,200, followed by $106,800.<\/p>\n

Major Resistance Levels \u2013 $108,000 and $110,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline and tested the $106,800 zone. BTC is now consolidating and might aim for a move above $108,500 Bitcoin started a fresh decline below the $108,500 zone. The price is trading below $108,000 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":69972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-69971","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\/69971"}],"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=69971"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/69972"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}