{"id":3112,"date":"2025-02-24T05:11:06","date_gmt":"2025-02-24T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-breakout-dreams-crushed-again-whats-next\/"},"modified":"2025-02-24T05:11:06","modified_gmt":"2025-02-24T05:11:06","slug":"bitcoin-price-breakout-dreams-crushed-again-whats-next","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-breakout-dreams-crushed-again-whats-next\/","title":{"rendered":"Bitcoin Price Breakout Dreams Crushed Again\u2014What\u2019s Next?"},"content":{"rendered":"<p><em>Bitcoin price failed to gain pace for a move above the $100,000 zone. BTC again declined and is currently consolidating near the $96,000 zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $99,500 zone.<\/li>\n<li>The price is trading below $97,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $96,400 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 $95,000 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Again<\/h2>\n<p>Bitcoin price formed a base above the $95,500 level and started a recovery wave. BTC was able to surpass the $97,000 and $98,500 resistance levels.<\/p>\n<p>The price even cleared the $99,000 resistance level. However, the bears remained active below the $100,000 level. A high was formed at $99,481 and the price started a fresh decline. There was a move below the $98,000 and $96,000 levels.<\/p>\n<p>A low was formed at $94,888 and the price is now recovering. There was a move above the $95,500 level. The price surpassed the 23.6% Fib retracement level of the downward move from the $99,481 swing high to the $94,881 low.<\/p>\n<p>Bitcoin price is now trading below $97,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $96,500 level. There is also a connecting bearish trend line forming with resistance at $96,400 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-701615\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/02\/Bitcoin_be566e.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The first key resistance is near the $97,200 level or the 50% Fib retracement level of the downward move from the $99,481 swing high to the $94,881 low. The next key resistance could be $97,750. A close above the $97,750 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 $99,500 level or even $100,000.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $97,200 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $95,500 level. The first major support is near the $95,000 level.<\/p>\n<p>The next support is now near the $94,200 zone. Any more losses might send the price toward the $93,500 support in the near term. The main support sits at $92,400.<\/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 above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $95,500, followed by $95,000.<\/p>\n<p>Major Resistance Levels \u2013 $96,500 and $97,200.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price failed to gain pace for a move above the $100,000 zone. BTC again declined and is currently consolidating near the $96,000 zone. Bitcoin started a fresh decline from the $99,500 zone. The price is trading below $97,500 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":3113,"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-3112","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\/3112","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=3112"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3112\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3113"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}