Bitcoin Price Fluctuations: Will It Ever Stop Playing Peek-A-Boo?

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Bitcoin has once again decided to take us on a rollercoaster, plunging below $85,500 before deciding it’s time for a bit of consolidation. It might even have the audacity to try and tackle the $85,200 resistance—if it’s feeling bold.

  • Bitcoin has started yet another fresh decline, blissfully ignoring the $85,500 zone.
  • The price has dipped below $85,000 and is now in a cozy relationship with the 100-hourly Simple Moving Average (because why not?).
  • Oh, and there’s a bearish trend line forming at $84,800 on the hourly chart. Because charts like to make life harder.
  • If Bitcoin pulls itself together and breaks through the $85,000 zone, it might even try for a victory lap.

Bitcoin Price: A Comeback Story in the Making?

After a brief fling with $86,500, Bitcoin decided it was time to go downhill, and not in the fun way. It dipped below $85,500 and $85,000, signaling a bit of a temper tantrum in the short term.

It did manage to find some support at $83,200—no one likes to see it go lower than that—though the price dipped to an excitingly low $83,171 before trying to catch its breath with a slight bounce above $83,800.

Bitcoin is still living below $85,000 and the 100-hourly Simple Moving Average. Resistance is looming at the $84,750 mark, and there’s also a trendy bearish trend line forming with resistance at $84,800 on the hourly chart of the BTC/USD pair. Because, of course, resistance must be made of tough stuff.

The first notable resistance comes in at $85,150 (or the 61.8% Fib retracement level—sounds fancy, doesn’t it?). Beyond that, $85,500 might be a challenge, but hey, nothing’s impossible with Bitcoin.

If Bitcoin manages to punch through the $85,500 resistance, it might just stretch itself towards $85,800. Then, if it’s feeling particularly cheeky, it could aim for $86,400. Who knows, right?

Bitcoin’s Next Move: Decline or Ascend?

If Bitcoin fails to pull off a miraculous rise above the $85,000 resistance, we might be in for another delightful descent. Immediate support is hanging around the $83,900 level, but the real drama unfolds around $83,200.

Next up, we’ve got $82,200 on the horizon, which could send Bitcoin tumbling toward $81,500. And if that doesn’t sound fun, the main support—just in case Bitcoin feels like having a breakdown—is $80,800.

Technical indicators:

Hourly MACD – The MACD seems to be losing its enthusiasm in the bearish zone. Too bad.

Hourly RSI (Relative Strength Index) – RSI for BTC/USD is hovering around the 50 mark, a perfect middle-ground of apathy.

Major Support Levels – $83,200, then $82,200 (with extra drama).

Major Resistance Levels – $84,750 and $85,150 (because Bitcoin loves a challenge).

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2025-04-17 06:27