{"id":1495,"date":"2024-11-27T06:00:21","date_gmt":"2024-11-27T06:00:21","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-price-corrects-to-90k-healthy-dip-or-cause-for-concern\/"},"modified":"2024-11-27T06:00:21","modified_gmt":"2024-11-27T06:00:21","slug":"bitcoin-price-corrects-to-90k-healthy-dip-or-cause-for-concern","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-price-corrects-to-90k-healthy-dip-or-cause-for-concern\/","title":{"rendered":"Bitcoin Price Corrects to $90K: Healthy Dip or Cause for Concern?"},"content":{"rendered":"<p><em>Bitcoin price is correcting gains below the $95,000 support. BTC traded close to the $90,000 level and is currently consolidating near $92,500.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction below the $95,000 zone.<\/li>\n<li>The price is trading below $94,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another increase if it clears the $93,500 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Corrects Gains<\/h2>\n<p>Bitcoin price struggled to extend gains and started a downside correction below the $97,500 level. BTC dipped below the $96,000 and $95,000 levels. It even dipped below $92,000.<\/p>\n<p>A low was formed at $90,736 and the price is now rising. There was a move above the $91,800 resistance level. The price cleared the 23.6% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low.<\/p>\n<p>Bitcoin price is now trading below $95,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $93,500 level. There is also a connecting bearish trend line forming with resistance at $93,500 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first key resistance is near the $94,800 level. It is close to the 50% Fib retracement level of the downward move from the $98,880 swing high to the $90,736 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-655078 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Bitcoin_a922b5.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A clear move above the $94,800 resistance might send the price higher. The next key resistance could be $95,750. A close above the $95,750 resistance might initiate more gains. In the stated case, the price could rise and test the $97,500 resistance level. Any more gains might send the price toward the $98,000 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $93,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $91,800 level.<\/p>\n<p>The first major support is near the $90,500 level. The next support is now near the $90,000 zone. Any more losses might send the price toward the $88,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish 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 $91,800, followed by $90,500.<\/p>\n<p>Major Resistance Levels \u2013 $93,500, and $94,750.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is correcting gains below the $95,000 support. BTC traded close to the $90,000 level and is currently consolidating near $92,500. Bitcoin started a downside correction below the $95,000 zone. The price is trading below $94,500 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1496,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142],"tags":[22,29,32,35,36,154],"class_list":["post-1495","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=1495"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1495\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1496"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}