Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»EXCHANGE NEWS»Bitcoin Price Under Pressure: Can the Downtrend Continue?
EXCHANGE NEWS

Bitcoin Price Under Pressure: Can the Downtrend Continue?

By Crypto FlexsDecember 23, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Bitcoin Price Under Pressure: Can the Downtrend Continue?
Share
Facebook Twitter LinkedIn Pinterest Email

This article is also available in Spanish.

Bitcoin price extended losses and traded below $100,000. BTC is showing bearish signs and may continue to decline towards the $91,200 support area.

  • Bitcoin began a new decline above the $100,000 resistance zone.
  • The price is trading below $98,000 and the 100-hour simple moving average.
  • The hourly chart of the BTC/USD pair (data feed from Kraken) shows a major bearish trendline forming at resistance $95,850.
  • If it stays above the $92,000 support, it could start a new rally.

Bitcoin price falls again

Bitcoin price failed to start another rally and losses widened below $100,000. BTC gained bearish momentum below the $98,000 and $96,500 levels.

Prices soared below $92,250. A low was formed at $92,159 before a recovery wave emerged. However, bears remained active near the $100,000 level. A high was formed at $99,575 and the price began another downward trend. It was trading below the $96,500 level.

There was a clear move below the 50% Fib retracement level of the recovery wave from the $92,159 swing low to the $99,575 high. The hourly chart of the BTC/USD pair also has a major bearish trendline forming with resistance at $95,850.

Bitcoin price is currently trading below $98,000 and the 100-hour simple moving average. It is also testing the 76.4% Fib retracement level of the recovery wave from the $92,159 swing low to the $99,575 high.

Meanwhile, immediate resistance is close to the $95,000 level. The first major resistance is near the $95,850 level. A clear break above the $95,850 resistance could push the price higher. The next major resistance could be $97,800. A break above the $97,800 resistance could push the price higher.

Source: TradingView.com BTCUSD

If indicated, the price could move higher to test the $98,500 resistance level. If more profits are made, the price may rise to the $100,000 level.

Are there more downsides to BTC?

If Bitcoin fails to break above the $95,850 resistance zone, it may continue to fall. Immediate support for the downside is near the $93,800 level.

The first major support is near the $92,500 level. The next support is now near the $91,200 area. Any more losses could lead the price towards the $90,000 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 – $92,500, $91,200.

Key resistance levels – $95,850 and $97,800.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin prices return to green -building exercise for more profits

June 26, 2025

Dogecoin (DOGE) after collision

June 23, 2025

Litecoin Key Support in Focus Price Eye Brake Out Determination

June 20, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 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

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Deutsche Bank partners with Bitpanda to integrate digital currency services in Germany

June 4, 2024

Ripple Unlocks 1 Billion XRP From Escrow

May 2, 2024

Ethereum analyst predicts $3,700 if ETH breaks resistance

November 25, 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.