{"id":2252,"date":"2025-01-09T05:11:07","date_gmt":"2025-01-09T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-faces-mounting-pressure-bears-take-the-lead\/"},"modified":"2025-01-09T05:11:07","modified_gmt":"2025-01-09T05:11:07","slug":"bitcoin-price-faces-mounting-pressure-bears-take-the-lead","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-faces-mounting-pressure-bears-take-the-lead\/","title":{"rendered":"Bitcoin Price Faces Mounting Pressure: Bears Take the Lead"},"content":{"rendered":"<p><em>Bitcoin price extended losses and traded below the $95,000 zone. BTC is correcting gains and might struggle to recover above the $96,500 level.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $97,500 resistance zone.<\/li>\n<li>The price is trading below $97,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $94,900 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 $92,500 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Below $95K<\/h2>\n<p>Bitcoin price failed to start a recovery wave above the $98,000 resistance. BTC remained in a short-term bearish zone and extended losses below the $96,500 level.<\/p>\n<p>There was a clear move below the $95,000 support zone. The price even traded below $93,200. A low was formed at $92,501 and the price is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $102,760 swing high to the $92,500 low.<\/p>\n<p>Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $95,000 level. There is also a connecting bearish trend line forming with resistance at $94,900 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first key resistance is near the $96,500 level. A clear move above the $96,500 resistance might send the price higher. The next key resistance could be $97,500 or the 50% Fib retracement level of the recent decline from the $102,760 swing high to the $92,500 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-672870\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Bitcoin_cbcdc3.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A close above the $97,500 resistance might send the price further higher. In the stated case, the price could rise and test the $98,800 resistance level. Any more gains might send the price toward the $100,000 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $95,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $93,500 level.<\/p>\n<p>The first major support is near the $92,500 level. The next support is now near the $92,000 zone. Any more losses might send the price toward the $91,500 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 $93,500, followed by $92,500.<\/p>\n<p>Major Resistance Levels \u2013 $95,000 and $96,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended losses and traded below the $95,000 zone. BTC is correcting gains and might struggle to recover above the $96,500 level. Bitcoin started a fresh decline from the $97,500 resistance zone. The price is trading below $97,000 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":2253,"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-2252","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\/2252","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=2252"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2253"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}