{"id":24128,"date":"2024-11-28T02:46:19","date_gmt":"2024-11-28T02:46:19","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24128"},"modified":"2024-11-28T02:46:19","modified_gmt":"2024-11-28T02:46:19","slug":"bitcoin-price-bounces-back-will-the-climb-continue","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24128","title":{"rendered":"Bitcoin Price Bounces Back: Will the Climb Continue?"},"content":{"rendered":"

Bitcoin price is recovering higher above the $94,000 level. BTC is consolidating and aims for a fresh increase above the $97,000 level.<\/em><\/p>\n

Bitcoin started a fresh increase from the $91,000 zone.
\nThe price is trading above $95,000 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $95,750 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $97,000 resistance zone.<\/p>\n

Bitcoin Price Recovers Losses<\/h2>\n

Bitcoin price found support near the $91,000 zone. BTC formed a base and started a fresh increase above the $93,500 resistance zone. The bulls were able to push the price above the $95,000 resistance zone<\/a>.<\/p>\n

The price surpassed the 50% Fib retracement level of the downward move from the $98,880 swing high to the $90,735 low. There is also a connecting bullish trend line forming with support at $95,750 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $97,000 level. It is near the 76.4% Fib retracement level of the downward move from the $98,880 swing high to the $90,735 low.<\/p>\n

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

The first key resistance is near the $98,000 level. A clear move above the $98,000 resistance might send the price higher. The next key resistance could be $99,200. A close above the $99,200 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $97,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,750 level.<\/p>\n

The first major support is near the $95,000 level. The next support is now near the $93,000 zone. Any more losses might send the price toward the $91,000 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 $95,750, followed by $95,000.<\/p>\n

Major Resistance Levels \u2013 $97,000, and $98,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is recovering higher above the $94,000 level. BTC is consolidating and aims for a fresh increase above the $97,000 level. Bitcoin started a fresh increase from the $91,000 zone. The price is trading above $95,000 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at […]<\/p>\n","protected":false},"author":0,"featured_media":24129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24128","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\/24128"}],"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=24128"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24128\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24129"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}