{"id":25226,"date":"2025-05-05T14:17:39","date_gmt":"2025-05-05T14:17:39","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=25226"},"modified":"2025-05-05T14:17:39","modified_gmt":"2025-05-05T14:17:39","slug":"bitcoins-support-at-88-8k-in-focus-after-trendline-break-xrp-eyes-death-cross-technical-analysis","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=25226","title":{"rendered":"Bitcoin\u2019s Support at $88.8K in Focus After Trendline Break; XRP Eyes Death Cross: Technical Analysis"},"content":{"rendered":"<div>\n<p><em>This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.<\/em><\/p>\n<p>Bitcoin\u2019s (BTC) weekend price movement has brought attention to the $88,800 support level, while XRP, the payments-focused cryptocurrency, seems close to confirming a bearish chart pattern known as the \u201cdeath cross.&#8221;<\/p>\n<p>BTC fell 1.5% on Sunday (UTC), diving out of a trendline connecting lows reached on April 9 and April 20, according to charts sourced from TradingView.<\/p>\n<p>The breakdown of the rising trendline, a demand zone, indicates that the recovery rally from April 9 lows under $75,000 may have run its course, suggesting potential for a renewed price swoon. Prices crossing below the Ichimoku cloud on the hourly chart, a momentum indicator, also suggests the same.<\/p>\n<p>On the downside, $88,800 could serve as a key support level, having previously capped upward moves on March 24 and April 2, which suggests it may act as a critical price point if tested again.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/7c902202ec681c5124183644adf7c838f4e48533-1793x741.png?auto=format\" alt=\"BTC's hourly chart. (TradingView\/CoinDesk)\" title=\"BTC's hourly chart. (TradingView\/CoinDesk)\"><\/p>\n<p>The bearish hourly chart set up risks invalidation on renewed above the Ichimoku cloud, which would reinstate the bullish outlook for rise to $100K.<\/p>\n<h4>XRP death cross<\/h4>\n<p>XRP&#8217;s recovery from April 7 lows has run out of steam, too, with prices falling back below the 50-day simple moving average (SMA).<\/p>\n<p>More importantly, the 50-day SMA appears on track to cross below the 200-day SMA in what is known as the death cross long-term bearish indicator.<\/p>\n<p>The impending death cross, against the backdrop of the overall downward trend since mid-January, raises the risk of a deeper sell-off. Note, however, that the death cross&#8217; record in predicting price trends has been mixed in both bitcoin and traditional markets.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/79cdb41f01f48890f981629674e1b427f72d3c8c-1793x741.png?auto=format\" alt=\"XRP's daily chart. (TradingView\/CoinDesk)\" title=\"XRP's daily chart. (TradingView\/CoinDesk)\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>This is a daily technical analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin\u2019s (BTC) weekend price movement has brought attention to the $88,800 support level, while XRP, the payments-focused cryptocurrency, seems close to confirming a bearish chart pattern known as the \u201cdeath cross.&#8221; BTC fell 1.5% on Sunday (UTC), diving out of [&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-25226","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\/25226","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=25226"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/25226\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}