The price of Bitcoin has begun to fall, dropping below $80,500. It’s currently stabilizing, but could have difficulty remaining above the $78,800 level.
- Bitcoin failed to stay above $80,500 and extended losses.
- The price is trading below $80,000 and the 100 hourly simple moving average.
- There is a bearish trend line forming with resistance at $80,700 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair might extend losses if it stays below the $80,500 and $81,200 levels.
Bitcoin Price Dips Further
Bitcoin’s price dropped below $80,500 and continued to fall, eventually dipping below $80,000 and then $79,500. This indicates a downward trend for BTC.
The price briefly fell below $79,000, reaching a low of $78,720, and is now stabilizing. It experienced a small rise after briefly dipping below a key technical level, measured as a 23.6% retracement of the recent price swing between $81,250 and $78,720.
Bitcoin’s price has fallen below $80,500 and is now trading under its 100-hour moving average. If it can stay above $79,000, it might try to rise again. A key price level to watch is around $80,000, which represents a 50% retracement of the recent price swing from a high of $81,250 to a low of $78,720.
Bitcoin is currently facing resistance around $80,500. Another potential barrier to upward movement is a downward trend line forming at approximately $80,700, based on its hourly price chart.
If the price breaks above $80,700, it could continue to climb. It might initially aim for $81,200, and further gains could push it towards $82,000. Ultimately, the price could face another challenge around $82,500.
Downside Extension In BTC?
If Bitcoin doesn’t break past $80,500, its price might start to fall again. There’s some initial support around $79,200, which could prevent a larger drop.
Bitcoin is currently finding support around $78,800, with another level at $78,000. If the price drops further, it could soon test $76,200. A key support level to watch is $75,500; a break below this could make it difficult for Bitcoin to recover quickly.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $79,200, followed by $78,800.
Major Resistance Levels – $80,000 and $80,700.
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2026-05-14 05:48