{"id":22346,"date":"2025-04-16T12:31:52","date_gmt":"2025-04-16T12:31:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22346"},"modified":"2025-04-16T12:31:52","modified_gmt":"2025-04-16T12:31:52","slug":"bitcoin-at-risk-of-dropping-to-75k-if-btcs-83k-support-breaks-chart-analysis-show","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22346","title":{"rendered":"Bitcoin at Risk of Dropping to $75K if BTC&#8217;s $83K Support Breaks, Chart Analysis Show"},"content":{"rendered":"<div>\n<p>This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.<\/p>\n<p>Bitcoin&#8217;s (BTC) recovery rally has stalled since Sunday, raising the risk of a bearish shift in key indicators.<\/p>\n<p>Since Sunday, the $86,000 mark has emerged as a resistance and supply zone, with bulls failing to keep gains above that level. The elusive breakout has raised the risk of a bearish realignment in key momentum indicators \u2013 the 50, 100- and 200-hour simple moving averages (SMA). The three averages stacked one below the other and trending south represent the bearish alignment.<\/p>\n<p>The 50- and 100-hour SMAs have peaked and appear on track to produce a bearish crossover that will see the former move below the latter. While the cryptocurrency&#8217;s price remains above the 200-hour SMA, the impending bear cross of the other two SMAs indicates that sellers are looking to reassert themselves.<\/p>\n<p>Additionally, the daily chart MACD histogram has stopped printing successively higher bars above the zero line, reflecting a loss of upward momentum to support the notion of potential bearish developments in the market.<\/p>\n<p>All this, when viewed against the backdrop of downward trending 50- and 100-day SMAs, calls for caution on the part of the bulls. A move below $83K, the hourly chart support, would validate the bearish developments, potentially yielding a sell-off toward the recent lows near $75K.<\/p>\n<p>Meanwhile, a UTC close above $86K is needed to signal a continuation of the recovery rally.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin&#8217;s (BTC) recovery rally has stalled since Sunday, raising the risk of a bearish shift in key indicators. Since Sunday, the $86,000 mark has emerged as a resistance and supply zone, with bulls failing to keep gains above that level. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22346","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22346"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22346\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}