{"id":138208,"date":"2023-09-02T04:15:23","date_gmt":"2023-09-01T22:45:23","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138208"},"modified":"2023-09-02T04:15:23","modified_gmt":"2023-09-01T22:45:23","slug":"bitcoin-price-plunges-again-and-now-vulnerable-to-more-losses-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/bitcoin-price-plunges-again-and-now-vulnerable-to-more-losses-crypto-news\/","title":{"rendered":"Bitcoin Price Plunges Again And Now Vulnerable To More Losses &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Bitcoin price gained bearish momentum below the $29,000 support. BTC tested $28,400 and now at risk of more losses below $28,200.<\/em><\/p>\n<ul>\n<li>Bitcoin is trading with a bearish angle below the $29,250 resistance zone.<\/li>\n<li>The price is trading below $29,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $28,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could continue to move down and trade below the $28,200 support.<\/li>\n<\/ul>\n<h2>Bitcoin Price Takes Hit<\/h2>\n<p>Bitcoin price remained in a bearish zone below the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-losses-29000\/\">$29,250 resistance zone<\/a>. BTC started another decline and traded below the key $29,000 support zone.<\/p>\n<p>It opened the doors for a sharp decline and the price dropped below $28,500. A low is formed near $28,350 and the price is now consolidating losses. It is trading near 23.6% Fib retracement level of the recent drop from the $29,182 swing high to the $28,350 low.<\/p>\n<p>Bitcoin is now trading below $29,000 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-muted-29650\/\">100 hourly Simple moving average<\/a>. There is also a major bearish trend line forming with resistance near $28,850 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Immediate resistance is near the $28,750 level. The next major resistance is near $28,850 and the trend line. It is close to the 61.8% Fib retracement level of the recent drop from the $29,182 swing high to the $28,350 low. The main resistance is now forming near the $29,000 zone and the 100 hourly Simple moving average.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\">BTCUSD on TradingView.com<\/a><\/p>\n<p>A close above the $29,000 resistance could start a decent increase toward the $29,500 resistance zone. Any more gains might set the pace for a larger increase toward $30,000.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to clear the $28,850 resistance, it could continue to move down. Immediate support on the downside is near the $28,400 zone.<\/p>\n<p>The next major support is near the $28,200 level. A downside break below the $28,200 level might push the price further into a bearish zone. In the stated case, the price could drop toward $27,500.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $28,400, followed by $28,200.<\/p>\n<p>Major Resistance Levels \u2013 $28,750, $28,850, and $29,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price gained bearish momentum below the $29,000 support. BTC tested $28,400 and now at risk of more losses below $28,200. Bitcoin is trading with a bearish angle below the $29,250 resistance zone. The price is trading below $29,000 and the 100 hourly Simple moving average. There is a major bearish trend line forming with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":138209,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=138208"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138208\/revisions"}],"predecessor-version":[{"id":138210,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138208\/revisions\/138210"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138209"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}