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 takes another hit: the downturn intensifies
EXCHANGE NEWS

Bitcoin price takes another hit: the downturn intensifies

By Crypto FlexsDecember 29, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin price takes another hit: the downturn intensifies
Share
Facebook Twitter LinkedIn Pinterest Email

This article is also available in Spanish.

Bitcoin price failed to exceed $100,000 and corrected its upward trend. BTC is back below $96,500 and may revisit the $93,200 support zone.

  • Bitcoin began a new downtrend in the $99,400 range.
  • The price is trading below $96,500 and the 100-hour simple moving average.
  • On the hourly chart of the BTC/USD pair (data feed from Kraken), a break has occurred below the connecting bullish trendline with support at $98,400.
  • If it stays above the $95,000 support zone, further upside could begin.

Bitcoin price falls again

Bitcoin price began a significant uptrend above the $96,500 resistance zone. BTC was able to break above the $97,500 and $98,000 resistance levels.

The pair cleared the $99,000 resistance and was trading near the $100,000 resistance. The all-time high was set at $99,400 and the price recently began a new downward trend. There was a move below the $96,500 support level. The price fell below the 50% Fib retracement level of the bullish wave from the $92,415 swing low to the $99,400 high.

Moreover, on the hourly chart of the BTC/USD pair, a break occurred below the connecting bullish trendline with support at $98,400. Bitcoin price is currently trading below $96,500 and the 100-hour simple moving average.

The price is currently maintaining the $95,000 area and the 61.8% Fib retracement level of the upward wave from $92,415 to $99,400. On the other hand, immediate resistance is close to the $96,400 level. The first major resistance is near the $97,750 level.

Source: TradingView.com BTCUSD

A clear break above the $97,750 resistance could push the price higher. The next major resistance could be $99,000. A break above the $99,000 resistance could push the price higher. If indicated, the price could move higher and test the $100,000 resistance level. More profits could push the price higher to the $102,000 level.

Will there be more losses in BTC?

If Bitcoin fails to rise above the $96,500 resistance zone, it may continue to fall. Immediate support for the downside is near the $95,200 level.

The first major support is near the $95,000 level. The next support is now near the $93,800 area. Any more losses could lead the price towards the $92,500 support in the near term.

Technical indicators:

Hourly MACD – MACD is now picking up speed in bearish territory.

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

Key support levels – $95,000, $93,800.

Key resistance levels – $96,500 and $97,750.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin Price Posts for 5 consecutive August losses: Will Michael Saylor react?

August 31, 2025

Pudgy Penguins

August 28, 2025

Will Cardano (ADA) step back and push the bear back low?

August 22, 2025
Add A Comment

Comments are closed.

Recent Posts

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Simultaneously Mine Dogecoin (DOGE), Ripple (XRP), And SOL

September 3, 2025

Cango Inc. Announces August 2025 Bitcoin Production And Mining Operations Update

September 2, 2025

BitMine Immersion (BMNR) Announces Release Of August Investor Presentation And Latest Video Message From Tom Lee, Chairman

September 2, 2025

Pioneering AI Visionary Vincent Boucher & AGI Alpha Announce A Meta‑Agentic AGI Jobs Marketplace Platform

September 2, 2025

Meme Coin Little Pepe Raises Above $24M In Presale With Over 39,000 Holders

September 2, 2025

Bybit WSOT 2025 Attracts Quadruple Squads As $8M Main Competition Commences

September 2, 2025

Duration Of The Process And Important Nuances

September 2, 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

GiftlyCard.com Recognized As Verified And Secure By Independent Review Sites

September 3, 2025

Embodying “Simple Mining, Smart Gains” For Effortless Crypto Accumulation

September 3, 2025

TOKEN2049 Singapore stops all records with the world’s largest Web3 event with 25,000 attendees in unprecedented demand.

September 3, 2025
Most Popular

$SMOG Meme Coin Price Prediction – 100X Low Cap Crypto Gem

February 15, 2024

Tether Support 21 Bitcoin worth $ 450 million

May 13, 2025

The EOS Network Foundation will undergo a major overhaul of its token supply at 2.1B.

June 1, 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.