Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin Price Bounces Back, But Could It Be Down Again?
EXCHANGE NEWS

Bitcoin Price Bounces Back, But Could It Be Down Again?

By Crypto FlexsSeptember 9, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Price Bounces Back, But Could It Be Down Again?
Share
Facebook Twitter LinkedIn Pinterest Email

This article is also available in Spanish.

Bitcoin price held support near the $52,500 zone. BTC is recovering losses and is facing hurdles near the $55,200 and $55,500 levels.

  • Bitcoin is struggling to recover above the $55,500 area.
  • The price is trading below $55,200 and the 100 hourly simple moving average.
  • According to data provided by Kraken, there is a resistance line forming at $55,200 on the hourly chart of BTC/USD, forming a major downtrend line.
  • The pair may struggle to recover above the resistance levels of $55,500 or $56,000 in the short term.

Bitcoin Price Recovery Target

Bitcoin price remained in a downtrend and extended losses below the $55,500 support level. BTC also fell below the $53,200 level. It tested the $52,500 level. A low was formed at $52,569 and the price is currently attempting a recovery wave.

It has moved above the $53,200 and $54,000 resistance levels. It has broken the 23.6% Fibonacci correction level of the decline from the $58,508 swing high to the $52,569 low. However, the price is currently struggling to recover above the $55,500 zone.

Bitcoin is currently trading below $55,200 and the 100-hour SMA. In an uptrend, the price could face resistance near $55,200. There is also a major downtrend line forming at $55,200 on the hourly chart of the BTC/USD pair.

The trend line is near the 50% Fibonacci correction level of the downtrend from the $58,508 swing high to the $52,569 low. The first major resistance is near the $55,500 level. A clear break above the $55,500 resistance could see the price move higher in the coming sessions.

Source: BTCUSD on TradingView.com

The next major resistance could be $56,200. A close above the $56,200 resistance level could lead to further upside. If so, the price could rise and test the $57,500 resistance level.

Bitcoin Another Downtrend?

If Bitcoin fails to break above the $55,500 resistance zone, another downtrend could begin. Immediate support for the downtrend is near the $54,000 level.

The first major support is at $53,200. The next support is now near the $52,500 area. If there is further loss, the price could move towards the $51,800 support in the short term.

Technical indicators:

Hourly MACD – The MACD is currently losing momentum in a bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently above the 50 level.

Key support levels – $54,000, then $53,200.

Key resistance levels – $55,200 and $55,500.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Hyperliquid’s USDH Stablecoin is broadcast live at an early transaction volume of $ 2M or more.

September 24, 2025

The fullback of $ 16 of the chain link (link) can set a parabolic price rally.

September 18, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Crypto VC Funding Reaches $2.7 Billion in Q2, Tron Could Become ‘Most Profitable Blockchain’ — ​​Finance Redefined

August 17, 2024

Kraken Pro Futures adds Take Profit/Stop Loss orders for improved risk management.

July 27, 2024

Is Cryptocurrency Entering a Bear Market? — 5 Things to Know About Bitcoin This Week

September 9, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.