{"id":1973,"date":"2024-12-23T06:00:31","date_gmt":"2024-12-23T06:00:31","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-price-under-pressure-could-the-slide-continue\/"},"modified":"2024-12-23T06:00:31","modified_gmt":"2024-12-23T06:00:31","slug":"bitcoin-price-under-pressure-could-the-slide-continue","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-price-under-pressure-could-the-slide-continue\/","title":{"rendered":"Bitcoin Price Under Pressure: Could The Slide Continue?"},"content":{"rendered":"<p><em>Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $100,000 resistance zone.<\/li>\n<li>The price is trading below $98,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $95,850 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start a fresh increase if it stays above the $92,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Again<\/h2>\n<p>Bitcoin price failed to start another increase and extended losses below the $100,000 zone. BTC gained bearish momentum below the $98,000 and $96,500 levels.<\/p>\n<p>The price even spiked below $92,250. A low was formed at $92,159 before there was a recovery wave. However, the bears were active near the $100,000 level. A high was formed at $99,575 and the price started another decline. It traded below the $96,500 level.<\/p>\n<p>There was a clear move below the 50% Fib retracement level of the recovery wave from the $92,159 swing low to the $99,575 high. There is also a key bearish trend line forming with resistance at $95,850 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price is now trading below $98,000 and the 100 hourly Simple moving average. It is also testing the 76.4% Fib retracement level of the recovery wave from the $92,159 swing low to the $99,575 high.<\/p>\n<p>On the upside, immediate resistance is near the $95,000 level. The first key resistance is near the $95,850 level. A clear move above the $95,850 resistance might send the price higher. The next key resistance could be $97,800. A close above the $97,800 resistance might send the price further higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-666287\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin_ab1b87.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>In the stated case, the price could rise and test the $98,500 resistance level. Any more gains might send the price toward the $100,000 level.<\/p>\n<h2>More Downsides In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $95,850 resistance zone, it could continue to move down. Immediate support on the downside is near the $93,800 level.<\/p>\n<p>The first major support is near the $92,500 level. The next support is now near the $91,200 zone. Any more losses might send the price toward the $90,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the 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 $92,500, followed by $91,200.<\/p>\n<p>Major Resistance Levels \u2013 $95,850 and $97,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone. The price is trading below $98,000 and the 100 hourly Simple moving average. There is a key bearish trend&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1974,"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-1973","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\/1973","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=1973"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1974"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}