{"id":3151,"date":"2025-02-26T05:11:06","date_gmt":"2025-02-26T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-takes-a-hit-is-this-just-the-beginning\/"},"modified":"2025-02-26T05:11:06","modified_gmt":"2025-02-26T05:11:06","slug":"bitcoin-price-takes-a-hit-is-this-just-the-beginning","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-takes-a-hit-is-this-just-the-beginning\/","title":{"rendered":"Bitcoin Price Takes a Hit\u2014Is This Just the Beginning?"},"content":{"rendered":"<p><em>Bitcoin price started a fresh decline below the $90,000 support. BTC must stay above the $86,000 zone to avoid more losses in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline from the $95,500 zone.<\/li>\n<li>The price is trading below $90,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term triangle forming with resistance at $89,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another decline if it fails to stay above the $90,000 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Sharply<\/h2>\n<p>Bitcoin price failed to stay above the $95,500 level and started a fresh decline. BTC declined heavily below the $93,200 and $92,200 support levels.<\/p>\n<p>The price even dived below the $90,000 level. It tested the $86,000 zone. A low was formed at $86,000 and the price is now consolidating losses. It is back above the $88,500 level and the 23.6% Fib retracement level of the downward move from the $96,482 swing high to the $86,000 low.<\/p>\n<p>Bitcoin price is now trading below $91,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $89,000 level. There is also a short-term triangle forming with resistance at $89,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first key resistance is near the $90,000 level. The next key resistance could be $91,250 or the 50% Fib retracement level of the downward move from the $96,482 swing high to the $86,000 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-702923\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/02\/Bitcoin_276aa0.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A close above the $91,250 resistance might send the price further higher. In the stated case, the price could rise and test the $93,500 resistance level. Any more gains might send the price toward the $95,000 level or even $96,400.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $90,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $88,000 level. The first major support is near the $87,250 level.<\/p>\n<p>The next support is now near the $86,000 zone. Any more losses might send the price toward the $85,000 support in the near term. The main support sits at $83,200.<\/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 below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $88,000, followed by $86,000.<\/p>\n<p>Major Resistance Levels \u2013 $90,000 and $91,250.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh decline below the $90,000 support. BTC must stay above the $86,000 zone to avoid more losses in the near term. Bitcoin started a fresh decline from the $95,500 zone. The price is trading below $90,000 and the 100 hourly Simple moving average. There is a short-term triangle forming with resistance&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3152,"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-3151","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\/3151","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=3151"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3152"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}