Bitcoin Price Dives Once More—Is a Deeper Correction Underway?

Mar 10, 2025 04:00 am Cryptocurrency 34

Bitcoin price started a fresh decline from the $92,000 zone. BTC is back below $85,500 and might continue to move down below $80,000.

Bitcoin started a fresh decline below the $85,000 zone.

The price is trading below $85,000 and the 100 hourly Simple moving average.

There is a short-term bearish trend line forming with resistance at $83,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).

The pair could start another decline if it fails to clear the $80,000 resistance zone.

Bitcoin Price Faces Resistance

Bitcoin price started a fresh decline below the $88,000 level. BTC traded below the $86,000 and $85,000 support levels. Finally, the price tested the $80,000 support zone.

A low was formed at $80,006 and the price recently started a recovery wave. There was a move above the $80,500 and $81,200 resistance levels. The bulls pushed the price toward the 23.6% Fib retracement level of the downward move from the $91,060 swing high to ..

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