<\/p>\n
Bitcoin price is correcting gains below $112,500. BTC could continue to move down if it stays below the $112,000 resistance.<\/em><\/p>\n Bitcoin price failed to stay above the $113,500 pivot level and extended losses<\/a>. BTC dipped below $112,500 and $112,000 to enter a bearish zone.<\/p>\n The decline was such that the price traded below the 61.8% Fib retracement level of the upward move from the $106,718 swing low to the $116,310 high. Besides, there is a bearish trend line forming with resistance at $111,500 on the hourly chart of the BTC\/USD pair.<\/p>\n Bitcoin is now trading below $112,000 and the 100 hourly Simple moving average<\/a>. If the bulls attempt a fresh increase, the price could face resistance near the $111,500 level and the trend line. The first key resistance is near the $112,000 level.<\/p>\n The next resistance could be $112,500. A close above the $112,500 resistance might send the price further higher. In the stated case, the price could rise and test the $113,200 resistance. Any more gains might send the price toward the $113,500 level. The next barrier for the bulls could be $115,000 and $115,500.<\/p>\n If Bitcoin fails to rise above the $112,500 resistance zone, it could continue to move down. Immediate support is near the $110,000 level. The first major support is near the $108,800 level or the 76.4% Fib retracement level of the upward move from the $106,718 swing low to the $116,310 high.<\/p>\n The next support is now near the $108,000 zone. Any more losses might send the price toward the $106,500 support in the near term. The main support sits at $103,500, below which BTC might struggle to recover in the short term.<\/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 $108,800, followed by $108,000.<\/p>\n Major Resistance Levels \u2013 $111,500 and $112,000.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Bitcoin price is correcting gains below $112,500. BTC could continue to move down if it stays below the $112,000 resistance. Bitcoin started a downside correction below the $112,000 support. The price is trading below $112,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $111,500 on the […]<\/p>\n","protected":false},"author":2,"featured_media":409622,"comment_status":"closed","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-409621","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\/409621","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=409621"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/409621\/revisions"}],"predecessor-version":[{"id":409623,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/409621\/revisions\/409623"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/409622"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=409621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=409621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=409621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Bitcoin Price Dips Further<\/h2>\n
More Losses In BTC?<\/h2>\n