Oh boy, Bitcoin’s caught in a bit of a financial pickle, hovering around the $86,000 mark like a pigeon on a power line. BTC is trying to muster up the courage to push through that pesky $88,000 resistance zone. But will it succeed? Let’s find out! 🎩💰(tcp-pizziness be damned!)
- Bitcoin’s started a fresh recovery above the $86,800 mark, but it’s like a kid trying to climb a greased pole—every step is a struggle.
- The price is currently trading below $87,200 and the 100 hourly Simple Moving Average. It’s like BTC’s got a lead balloon tied to its wallet. 🍑땡
- A bearish trend line is forming, with a resistance at $88,000 on the hourly chart of the BTC/USD pair (data from Kraken). It’s like there’s a brick wall up there and someone’s playing Brick Breaker with Bitcoin’s hopes and dreams. 🧱💔
- The pair might just start another upward trend if it can clear the $88,000 and $88,200 levels. But hey, who are we kidding? It’s Bitcoin, and it’s as unpredictable as… well, anything ever. 🤷♂️🤷♀️
Bitcoin’s price is perched above the $85,500 level, looking like a cat on a hot tin roof. BTC formed a base and recently started a recovery wave above the $86,500 resistance level. The bulls tried to push the price above the $87,200 resistance, even managing to hit the 61.8% Fib retracement level of the downward move from the $88,260 swing high to the $85,852 swing low. But the bears are having none of it, camped out below the $88,000 level like they’re at a bear whisperer convention. 🐻🗣️
Right now, Bitcoin is trading below $87,500 and the 100 hourly Simple Moving Average. The immediate resistance is near the $87,700 level and the 76.4% Fib retracement level. If BTC can’t break through this, it’s like trying to squeeze through a needle’s eye with a watermelon. 🍉🚫
The first key resistance is near the $88,000 level, and there’s a bearish trend line forming with that same resistance on the hourly chart of the BTC/USD pair. The next key resistance could be at $88,250. It’s like a series of hurdles in a Bitcoin relay race. 🏃♂️🏃♀️
If Bitcoin can breach the $88,250 resistance, it might just shoot up to the $88,800 level. From there, it could even reach the $90,000 mark or higher. But hey, that’s if the moons align and the stars dance. 🌠💃
Another Decline In BTC?
If Bitcoin fails to rise above the $88,000 resistance zone, it could start a fresh decline. Immediate support is near the $86,800 level, and the first major support is at $86,400. The next support is near the $85,850 zone, and further losses could send the price toward the $85,000 support. The main support sits at $84,500. It’s like a game of financial Jenga—every move could bring the whole thing crashing down. 🪜💥
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone. It’s like it’s charging up for a bearish attack. 🐻⚡
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. It’s like the market’s feeling a bit under the weather. 🤧اقل
Major Support Levels – $86,400, followed by $85,850.
Major Resistance Levels – $88,000 and $88,250.
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2025-03-28 06:06