{
    "id": 60717,
    "date": "2026-01-29T10:03:55",
    "date_gmt": "2026-01-29T03:03:55",
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        "rendered": "Bitcoin Price Backs Off Resistance \u2014 Breakdown Or Brief Pause?"
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        "rendered": "<div id=\"ftwp-postcontent\">\n<p><em>Bitcoin price started a recovery wave above $89,500 but failed above $90,000. BTC is declining and might dip further if it breaks $88,000.<\/em><\/p>\n<ul>\n<li>Bitcoin failed to remain above $90,000 and started another decline.<\/li>\n<li>The price is trading above $88,200 and the 100 hourly simple moving average.<\/li>\n<li>There is a rising channel forming with support at $88,100 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might dip further if it trades below the $88,000 and $87,500 levels.<\/li>\n<\/ul>\n<h2 id=\"ftoc-heading-1\">Bitcoin Price Faces Rejection<\/h2>\n<p>Bitcoin price remained stable above the <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-marches-upward-90k\/\" target=\"_blank\">$88,000 support<\/a>. BTC formed a base and recently started a recovery wave above the $88,500 level.<\/p>\n<p>The price climbed above the $89,000 and $89,500 levels. There was a move above the 76.4% Fib retracement level of the downward move from the $91,098 swing high to the $86,007 low. The bulls even pushed the price above $90,000 but they failed to keep the price in a positive zone.<\/p>\n<p>There was a fresh decline below $89,000. Bitcoin is now trading above $88,200 and the 100 hourly simple moving average. Besides, there is a rising channel forming with support at $88,100 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>If the price remains stable above $88,000, it could attempt a fresh <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-recovery-attempts-rise-88k\/\" target=\"_blank\">increase<\/a>. Immediate resistance is near the $89,150 level. The first key resistance is near the $89,800 level. A close above the $89,800 resistance might send the price further higher.<\/p>\n<figure id=\"attachment_878155\" aria-describedby=\"caption-attachment-878155\"><a href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/01\/Bitcoin_f210ed.png\"><img loading=\"lazy\" data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2026\/01\/Bitcoin_f210ed.png?resize=1024%2C509\" alt=\"Bitcoin Price \" width=\"1024\" height=\"509\"><\/a><figcaption id=\"caption-attachment-878155\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>In the stated case, the price could rise and test the $90,250 resistance. Any more gains might send the price toward the $91,200 level. The next barrier for the bulls could be $92,000 and $92,500.<\/p>\n<h2 id=\"ftoc-heading-2\">Another Rejection In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $89,150 resistance zone, it could start another decline. Immediate support is near the $88,200 level. The first major support is near the $88,000 level.<\/p>\n<p>The next support is now near the $87,200 zone. Any more losses might send the price toward the $87,000 support in the near term. The main support sits at $86,000, below which BTC might struggle to recover in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $88,200, followed by $87,000.<\/p>\n<p>Major Resistance Levels \u2013 $89,150 and $89,800.<\/p>\n<\/p><\/div>",
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