{"id":21911,"date":"2024-11-20T03:08:09","date_gmt":"2024-11-20T03:08:09","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21911"},"modified":"2024-11-20T03:08:09","modified_gmt":"2024-11-20T03:08:09","slug":"bitcoin-price-on-the-rise-is-there-more-fuel-for-the-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21911","title":{"rendered":"Bitcoin Price on the Rise: Is There More Fuel for the Rally?"},"content":{"rendered":"

Bitcoin price is consolidating gains near the $91,000 zone. BTC is holding gains and might soon aim for more upsides above the $94,000 level.<\/em><\/p>\n

Bitcoin started a fresh increase above the $91,000 zone.
\nThe price is trading above $91,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $90,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $93,200 resistance zone.<\/p>\n

Bitcoin Price Could Rally Again<\/h2>\n

Bitcoin price remained supported above the $90,000 level<\/a>. BTC formed a base and started a fresh increase above the $91,000 level. It cleared the $93,000 level and traded to a new high at $94,000 before there was a pullback.<\/p>\n

There was a move below the $93,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $89,400 swing low to the $94,000 high. However, the price is stable and consolidating near the $92,000 level.<\/p>\n

Bitcoin price is now trading above $91,000 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support at $90,800 on the hourly chart of the BTC\/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $89,400 swing low to the $94,000 high.<\/p>\n

On the upside, the price could face resistance near the $92,600 level. The first key resistance is near the $93,200 level. A clear move above the $93,200 resistance might send the price higher. The next key resistance could be $94,000.<\/p>\n

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

A close above the $94,000 resistance might initiate more gains. In the stated case, the price could rise and test the $98,000 resistance level. Any more gains might send the price toward the $100,000 resistance level.<\/p>\n

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

If Bitcoin fails to rise above the $94,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $91,700 level.<\/p>\n

The first major support is near the $90,700 level. The next support is now near the $89,500 zone. Any more losses might send the price toward the $87,500 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 $91,700, followed by $90,700.<\/p>\n

Major Resistance Levels \u2013 $92,600, and $94,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is consolidating gains near the $91,000 zone. BTC is holding gains and might soon aim for more upsides above the $94,000 level. Bitcoin started a fresh increase above the $91,000 zone. The price is trading above $91,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":21912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21911","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\/21911"}],"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=21911"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21912"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}