Bitcoin Price Eyes $100K as Bulls Regain Momentum, Buy Dips?

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Este artículo también está disponible en español. Bitcoin price started a fresh increase above the $96,500 zone. BTC is rising and might aim for a move toward the $100,000 resistance. Bitcoin started a decent increase above the $96,500 resistance zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance at $97,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it clears the $98,800 zone. Bitcoin Price Regains Traction Bitcoin price started a fresh increase from the $93,500 support zone. BTC formed a base and was able to clear the $95,000 resistance zone. The bulls even pushed the price above $96,500. There was a break above a connecting bearish trend line with resistance at $97,200 on the hourly chart of the BTC/USD pair. The pair spiked above $98,000 and tested $98,300. A high is formed at $98,292 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $95,824 swing low to the $98,292 high. Bitcoin is now trading above $97,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $98,250 level. The first key resistance is near the $98,500 level. The next key resistance could be $98,800. A close above the $98,800 resistance might send the price further higher. In the stated case, the price could rise and test the $99,500 resistance level. Any more gains might send the price toward the $100,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $98,250 resistance zone, it could start another downside correction. Immediate support on the downside is near the $97,700 level. The first major support is near the $97,000 level and the 50% Fib retracement level of the upward move from the $95,824 swing low to the $98,292 high. The next support is now near the $96,400 zone. Any more losses might send the price toward the $95,500 support in the near term. The main support sits at $94,200. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $97,000, followed by $96,400. Major Resistance Levels – $98,250 and $98,800. Source: https://www.newsbtc.com/analysis/btc/bitcoin-price-eyes-100k/