<\/p>\n
Bitcoin price started a fresh decline below the $88,000 support. BTC must stay above the $80,000 zone to avoid more losses in the near term.<\/em><\/p>\n Bitcoin price failed to stay above the $92,500 level and started a fresh decline<\/a>. BTC declined heavily below the $90,000 and $88,000 support levels.<\/p>\n The price even dived below the $85,000 level. It tested the $80,000 zone. A low was formed at $80,525 and the price is now consolidating losses. It is back above the $83,500 level and the 23.6% Fib retracement level of the downward move from the $89,203 swing high to the $80,525 low.<\/p>\n Bitcoin price is now trading below $85,200 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $85,000 level or the 50% Fib retracement level of the downward move from the $89,203 swing high to the $80,525 low.<\/p>\n The first key resistance is near the $85,500 level. There is also a connecting bearish trend line forming with resistance at $86,150 on the hourly chart of the BTC\/USD pair.<\/p>\n The next key resistance could be $87,150. A close above the $87,150 resistance might send the price further higher. In the stated case, the price could rise and test the $88,500 resistance level. Any more gains might send the price toward the $90,000 level or even $90,500.<\/p>\n If Bitcoin fails to rise above the $86,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $83,000 level. The first major support is near the $82,000 level.<\/p>\n The next support is now near the $81,200 zone. Any more losses might send the price toward the $80,000 support in the near term. The main support sits at $78,500.<\/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 $82,000, followed by $80,000.<\/p>\n Major Resistance Levels \u2013 $85,000 and $86,000.<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Bitcoin price started a fresh decline below the $88,000 support. BTC must stay above the $80,000 zone to avoid more losses in the near term. Bitcoin started a fresh decline from the $92,500 zone. The price is trading below $88,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming […]<\/p>\n","protected":false},"author":2,"featured_media":375992,"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-375991","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\/375991","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=375991"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375991\/revisions"}],"predecessor-version":[{"id":375993,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/375991\/revisions\/375993"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/375992"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=375991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=375991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=375991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Bitcoin Price Dips Further<\/h2>\n
Another Drop In BTC?<\/h2>\n