{"id":1873,"date":"2024-12-19T05:11:07","date_gmt":"2024-12-19T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-slips-below-100k-is-the-rally-losing-steam\/"},"modified":"2024-12-19T05:11:07","modified_gmt":"2024-12-19T05:11:07","slug":"bitcoin-slips-below-100k-is-the-rally-losing-steam","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-slips-below-100k-is-the-rally-losing-steam\/","title":{"rendered":"Bitcoin Slips Below $100K: Is The Rally Losing Steam?"},"content":{"rendered":"<p><em>Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $108,000 resistance zone.<\/li>\n<li>The price is trading below $104,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $102,000 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 $98,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Takes Hit<\/h2>\n<p>Bitcoin price attempted more gains above the $108,000 resistance zone. However, BTC failed to continue higher and reacted to the downside below the $105,000 level.<\/p>\n<p>There was a clear move below the $102,500 support level. The price even dipped below $100,000. A low was formed at $98,728 and the price is now consolidating losses. There is also a connecting bearish trend line forming with resistance at $102,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin price is now trading below $104,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $100,500 level. It is close to the 23.6% Fib retracement level of the downward move from the $108,297 swing high to the $98,728 low.<\/p>\n<p>The first key resistance is near the $101,000 level and the trend line. A clear move above the $101,000 resistance might send the price higher. The next key resistance could be $102,250. A close above the $102,250 resistance might send the price further higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-664791\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin_6d6399.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 $103,500 resistance level or the 50% Fib retracement level of the downward move from the $108,297 swing high to the $98,728 low. Any more gains might send the price toward the $106,000 level.<\/p>\n<h2>More Downsides In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $101,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $98,500 level.<\/p>\n<p>The first major support is near the $98,000 level. The next support is now near the $96,200 zone. Any more losses might send the price toward the $95,500 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 $98,000, followed by $96,500.<\/p>\n<p>Major Resistance Levels \u2013 $101,000, and $102,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone. Bitcoin started a fresh decline from the $108,000 resistance zone. The price is trading below $104,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-1873","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:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1873","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1873"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1873\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1874"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1873"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1873"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1873"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}