{"id":3362,"date":"2025-03-10T05:11:05","date_gmt":"2025-03-10T05:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-dives-once-more-is-a-deeper-correction-underway\/"},"modified":"2025-03-10T05:11:05","modified_gmt":"2025-03-10T05:11:05","slug":"bitcoin-price-dives-once-more-is-a-deeper-correction-underway","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-dives-once-more-is-a-deeper-correction-underway\/","title":{"rendered":"Bitcoin Price Dives Once More\u2014Is a Deeper Correction Underway?"},"content":{"rendered":"<p><em>Bitcoin price started a fresh decline from the $92,000 zone. BTC is back below $85,500 and might continue to move down below $80,000.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh decline below the $85,000 zone.<\/li>\n<li>The price is trading below $85,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term bearish trend line forming with resistance at $83,200 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 clear the $80,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin price started a fresh decline below the $88,000 level. BTC traded below the $86,000 and $85,000 support levels. Finally, the price tested the $80,000 support zone.<\/p>\n<p>A low was formed at $80,006 and the price recently started a recovery wave. There was a move above the $80,500 and $81,200 resistance levels. The bulls pushed the price toward the 23.6% Fib retracement level of the downward move from the $91,060 swing high to the $80,006 low.<\/p>\n<p>Bitcoin price is now trading below $85,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $82,700 level. The first key resistance is near the $83,000 level.<\/p>\n<p>There is also a short-term bearish trend line forming with resistance at $83,200 on the hourly chart of the BTC\/USD pair. The next key resistance could be $85,000. It is near the 50% Fib retracement level of the downward move from the $91,060 swing high to the $80,006 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-709391\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/03\/Bitcoin_b438f9.png?resize=1024%2C449\" alt=\"Bitcoin Price \" width=\"1024\" height=\"449\" loading=\"lazy\" \/><\/p>\n<p>A close above the $85,000 resistance might send the price further higher. In the stated case, the price could rise and test the $87,500 resistance level. Any more gains might send the price toward the $90,000 level or even $96,200.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $83,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $81,000 level. The first major support is near the $80,200 level.<\/p>\n<p>The next support is now near the $80,000 zone. Any more losses might send the price toward the $78,000 support in the near term. The main support sits at $75,000.<\/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 $80,000, followed by $78,000.<\/p>\n<p>Major Resistance Levels \u2013 $83,000 and $85,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh decline from the $92,000 zone. BTC is back below $85,500 and might continue to move down below $80,000. Bitcoin started a fresh decline below the $85,000 zone. The price is trading below $85,000 and the 100 hourly Simple moving average. There is a short-term bearish trend line forming with resistance&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3363,"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-3362","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\/3362","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=3362"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3362\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3363"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3362"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3362"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3362"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}