BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\nA clear move above the $98,000 resistance might send the price higher. The next key resistance could be $98,800. A close above the $98,800 resistance might send the price further higher. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level.<\/p>\n
Another Decline In BTC?<\/h2>\n If Bitcoin fails to rise above the $98,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $96,500 level.<\/p>\n
The first major support is near the $95,000 level. The next support is now near the $94,250 zone. Any more losses might send the price toward the $92,000 support in the near term.<\/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 $96,500, followed by $95,000.<\/p>\n
Major Resistance Levels \u2013 $98,000, and $98,800.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin price remained supported above the $94,200 zone. BTC is forming a base and might start a fresh increase above the $98,000 resistance. Bitcoin started a fresh decline below the $98,000 support zone. The price is trading below $97,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance at $97,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could regain momentum if it closes above the $98,000 resistance zone. Bitcoin Price Stays Above Support Bitcoin price extended losses below the $98,000 support zone. There was a move below the $96,500 support. The price even spiked below $95,000. A low was formed at $94,314 and the price is now consolidating losses. There was a recovery wave above the $96,650 level. The price climbed above the 61.8% Fib retracement level of the downward wave from the $98,267 swing high to the $94,314 low. Bitcoin price is now trading below $98,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $97,500 level. It is close to the 76.4% Fib retracement level of the downward wave from the $98,267 swing high to the $94,314 low. The first key resistance is near the $98,000 level. There is also a key bearish trend line forming with resistance at $97,800 on the hourly chart of the BTC\/USD pair. A clear move above the $98,000 resistance might send the price higher. The next key resistance could be $98,800. A close above the $98,800 resistance might send the price further higher. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $98,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $96,500 level. The first major support is near the $95,000 level. The next support is now near the $94,250 zone. Any more losses might send the price toward the $92,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now losing pace in the bearish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level. Major Support Levels \u2013 $96,500, followed by $95,000. Major Resistance Levels \u2013 $98,000, and $98,800.<\/p>\n","protected":false},"author":67,"featured_media":660543,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-660541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n
Bitcoin Price Holds Support: Ready to Spring Back?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n