{"id":22575,"date":"2024-11-22T03:12:40","date_gmt":"2024-11-22T03:12:40","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=22575"},"modified":"2024-11-22T03:12:40","modified_gmt":"2024-11-22T03:12:40","slug":"bitcoin-price-approaches-100k-the-countdown-is-on","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=22575","title":{"rendered":"Bitcoin Price Approaches $100K: The Countdown Is On"},"content":{"rendered":"

Bitcoin price is rising steadily above the $95,000 zone. BTC is showing positive signs and might soon hit the $100,000 milestone level.<\/em><\/p>\n

Bitcoin started a fresh increase above the $95,000 zone.
\nThe price is trading above $95,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could continue to rise if it clears the $100,000 resistance zone.<\/p>\n

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

Bitcoin price remained supported<\/a> above the $92,000 level. BTC formed a base and started a fresh increase above the $95,000 level. It cleared the $96,500 level and traded to a new high at $98,999 before there was a pullback.<\/p>\n

There was a move below the $98,000 level. However, the price remained stable above the 23.6% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. There is also a key bullish trend line forming with support at $95,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

The trend line is close to the 50% Fib retracement level of the upward move from the $91,500 swing low to the $98,990 high. Bitcoin price is now trading above $96,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, the price could face resistance near the $98,880 level. The first key resistance is near the $99,000 level. A clear move above the $99,000 resistance might send the price higher. The next key resistance could be $100,000.<\/p>\n

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

A close above the $100,000 resistance might initiate more gains. In the stated case, the price could rise and test the $102,000 resistance level. Any more gains might send the price toward the $104,500 resistance level.<\/p>\n

Downside Correction In BTC?<\/h2>\n

If Bitcoin fails to rise above the $100,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $98,000 level.<\/p>\n

The first major support is near the $96,800 level. The next support is now near the $95,500 zone and the trend line. Any more losses might send the price toward the $92,000 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining pace in the bullish 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 $96,800, followed by $95,500.<\/p>\n

Major Resistance Levels \u2013 $99,000, and $100,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is rising steadily above the $95,000 zone. BTC is showing positive signs and might soon hit the $100,000 milestone level. Bitcoin started a fresh increase above the $95,000 zone. The price is trading above $95,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at […]<\/p>\n","protected":false},"author":0,"featured_media":22576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22575","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\/22575"}],"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=22575"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22575\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22576"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}