{"id":2607,"date":"2025-01-28T05:11:07","date_gmt":"2025-01-28T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-bounce-back-might-be-short-lived-heres-why\/"},"modified":"2025-01-28T05:11:07","modified_gmt":"2025-01-28T05:11:07","slug":"bitcoin-price-bounce-back-might-be-short-lived-heres-why","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-bounce-back-might-be-short-lived-heres-why\/","title":{"rendered":"Bitcoin Price Bounce Back Might Be Short-Lived: Here\u2019s Why"},"content":{"rendered":"<p><em>Bitcoin price extended losses and tested the $97,650 zone. BTC is now correcting losses and might face hurdles near the $103,000 level.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction below the $103,000 zone.<\/li>\n<li>The price is trading below $103,200 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $103,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another decline if it stays below the $103,500 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Further<\/h2>\n<p>Bitcoin price started a fresh decline below the $105,000 and $103,500 levels. BTC even dipped below the $100,00 level before the bulls appeared. A low was formed at $97,688 and the price is now correcting losses.<\/p>\n<p>There was a move above the $99,500 and $100,000 levels. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $107,080 swing high to the $97,688 low. However, the bears are active near the $102,000 zone.<\/p>\n<p>Bitcoin price is now trading below $103,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $102,350 level or the 50% Fib retracement level of the downward move from the $107,080 swing high to the $97,688 low.<\/p>\n<p>The first key resistance is near the $103,000 level. There is also a connecting bearish trend line forming with resistance at $103,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-684481\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Bitcoin_c53c39.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The next key resistance could be $104,200. A close above the $104,200 resistance might send the price further higher. In the stated case, the price could rise and test the $105,500 resistance level. Any more gains might send the price toward the $107,000 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $103,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $100,500 level. The first major support is near the $100,000 level.<\/p>\n<p>The next support is now near the $88,500 zone. Any more losses might send the price toward the $86,500 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $100,500, followed by $100,000.<\/p>\n<p>Major Resistance Levels \u2013 $102,200 and $103,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price extended losses and tested the $97,650 zone. BTC is now correcting losses and might face hurdles near the $103,000 level. Bitcoin started a downside correction below the $103,000 zone. The price is trading below $103,200 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":2608,"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-2607","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\/2607","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=2607"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2608"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}