{"id":13738,"date":"2024-12-27T02:38:16","date_gmt":"2024-12-27T02:38:16","guid":{"rendered":"https:\/\/cryptd.in\/bitcoin-price-takes-another-hit-bears-tighten-their-grip\/"},"modified":"2024-12-27T02:38:16","modified_gmt":"2024-12-27T02:38:16","slug":"bitcoin-price-takes-another-hit-bears-tighten-their-grip","status":"publish","type":"post","link":"https:\/\/cryptd.in\/sl\/bitcoin-price-takes-another-hit-bears-tighten-their-grip\/","title":{"rendered":"Bitcoin Price Takes Another Hit: Bears Tighten Their Grip"},"content":{"rendered":"<p><em>Bitcoin price failed to surpass $100,000 and corrected gains. BTC is back below $96,500 and might revisit the $93,200 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $99,400 zone.<\/li>\n<li>The price is trading below $96,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a connecting bullish trend line with support at $98,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another increase if it stays above the $95,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Again<\/h2>\n<p>Bitcoin price started a decent upward move above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-breakout-100k\/\" target=\"_blank\" rel=\"noopener \">$96,500 resistance zone<\/a>. BTC was able to climb above the $97,500 and $98,000 resistance levels.<\/p>\n<p>The pair cleared the $99,000 resistance level and traded close to the $100,000 resistance level. A high was formed at $99,400 and the price recently started a fresh decline. There was a move below the $96,500 support. The price dipped below the 50% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high.<\/p>\n<p>Besides, there was a break below a connecting bullish trend line with support at $98,400 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below $96,500 and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-comeback-100k\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>.<\/p>\n<p>The price is now holding the $95,000 zone and the 61.8% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. On the upside, immediate resistance is near the $96,400 level. The first key resistance is near the $97,750 level.<\/p>\n<p><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin_de9fd5.png\"><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-667396\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin_de9fd5.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" loading=\"lazy\" \/><\/a><\/p>\n<p>A clear move above the $97,750 resistance might send the price higher. The next key resistance could be $99,000. A close above the $99,000 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<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $96,500 resistance zone, it could continue to move down. Immediate support on the downside is near the $95,200 level.<\/p>\n<p>The first major support is near the $95,000 level. The next support is now near the $93,800 zone. Any more losses might send the price toward the $92,500 support in the near term.<\/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 $95,000, followed by $93,800.<\/p>\n<p>Major Resistance Levels \u2013 $96,500 and $97,750.<\/p>","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to surpass $100,000 and corrected gains. BTC is back below $96,500 and might revisit the $93,200 support zone. Bitcoin started a fresh decline from the $99,400 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":13740,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13738","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bitcoin Price Takes Another Hit: Bears Tighten Their Grip - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/sl\/bitcoin-price-takes-another-hit-bears-tighten-their-grip\/\" \/>\n<meta property=\"og:locale\" content=\"sl_SI\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Price Takes Another Hit: Bears Tighten Their Grip - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Bitcoin price failed to surpass $100,000 and corrected gains. BTC is back below $96,500 and might revisit the $93,200 support zone. Bitcoin started a fresh decline from the $99,400 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. 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