Bitcoin Price Pulls Back Again: Key Support Levels to Watch
Trending Articles- Senate to vote on Trump’s pro-Bitcoin Fed pick as BTC hits four-week high
- Gold slumps below $5,100 as US Dollar gains
- WTI climbs back closer to $72.00 as closure of Strait of Hormuz fuels supply concerns
- US Dollar Index gathers strength to near 99.00 on Middle East tensions, robust US services data
- WTI climbs to $76.00, eyes one-year high amid rising tensions in the Middle East
- How to Survive Bitcoin Winter? Will It Still Fall Below $60,000 in 2026?
Bitcoin price started another decline from the $102,500 zone. BTC is trimming gains and struggling to stay above the $96,500 support zone.
Bitcoin started a fresh decline below the $100,000 level.
The price is trading below $99,500 and the 100 hourly Simple moving average.
There is a new connecting bearish trend line forming with resistance at $99,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair could start another increase if it stays above the $95,500 zone.
Bitcoin Price Dips Below $100,000
Bitcoin price failed to continue higher above the $102,500 zone. It started another decline below the $100,000 zone. BTC gained bearish momentum for a move below the $98,500 and $97,500 levels.
The bears pushed the price below the 50% Fib retracement level of the upward move from the $91,000 swing low to the $102,500 high. The price even tested the $96,500 support zone and is currently consolidating losses. There is also a new connecting bearish trend line forming with resistance at $99,000 on the hourly chart of the BTC/USD pair.
Bitcoin price is now trading below $98,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $98,000 level. The first key resistance is near the $99,000 level.
The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $102,500 resistance level. Any more gains might send the price toward the $103,500 level.
More Losses In BTC?
If Bitcoin fails to rise above the $99,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,500 level. The first major support is near the $95,500 level or the 61.8% Fib retracement level of the upward move from the $91,000 swing low to the $102,500 high.
The next support is now near the $93,750 zone. Any more losses might send the price toward the $95,500 support in the near term.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $96,500, followed by $95,500.
Major Resistance Levels – $99,000 and $100,000.
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
