{"id":21556,"date":"2024-11-19T03:06:12","date_gmt":"2024-11-19T03:06:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21556"},"modified":"2024-11-19T03:06:12","modified_gmt":"2024-11-19T03:06:12","slug":"bitcoin-price-gears-up-for-new-ath-will-bulls-push-through","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21556","title":{"rendered":"Bitcoin Price Gears Up for New ATH: Will Bulls Push Through?"},"content":{"rendered":"

Bitcoin price is consolidating gains near the $90,000 zone. BTC is showing positive signs and might soon aim for a fresh increase above $92,000.<\/em><\/p>\n

Bitcoin started a fresh increase above the $90,000 zone.
\nThe price is trading above $90,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $89,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $92,600 resistance zone.<\/p>\n

Bitcoin Price Aims Another ATH<\/h2>\n

Bitcoin price started a short-term downside correction<\/a> below the $90,000 level. BTC traded below the $88,000 level before it found support.<\/p>\n

A low was formed at $86,621 and the price is now recovering higher. There was a move above the $90,000 level. A high was formed at $92,607 and the price is now consolidating. It is trading near the 23.6% Fib retracement level of the upward move from the $86,621 swing low to the $92,607 high.<\/p>\n

Bitcoin price is now trading above $90,000 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support at $89,600 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the upward move from the $86,621 swing low to the $92,607 high.<\/p>\n

On the upside, the price could face resistance near the $92,000 level. The first key resistance is near the $92,500 level. A clear move above the $92,500 resistance might send the price higher. The next key resistance could be $93,200.<\/p>\n

<\/a><\/p>\n

A close above the $93,200 resistance might initiate more gains. In the stated case, the price could rise and test the $95,000 resistance level. Any more gains might send the price toward the $98,000 resistance level.<\/p>\n

Another Drop In BTC?<\/h2>\n

If Bitcoin fails to rise above the $92,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $90,000 level.<\/p>\n

The first major support is near the $89,650 level. The next support is now near the $88,000 zone. Any more losses might send the price toward the $86,500 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $89,650, followed by $88,000.<\/p>\n

Major Resistance Levels \u2013 $92,000, and $92,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is consolidating gains near the $90,000 zone. BTC is showing positive signs and might soon aim for a fresh increase above $92,000. Bitcoin started a fresh increase above the $90,000 zone. The price is trading above $90,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":21557,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21556"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=21556"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21556\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21557"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}