{"id":24933,"date":"2024-12-02T02:33:49","date_gmt":"2024-12-02T02:33:49","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=24933"},"modified":"2024-12-02T02:33:49","modified_gmt":"2024-12-02T02:33:49","slug":"bitcoin-price-on-the-brink-100k-breakthrough-imminent","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=24933","title":{"rendered":"Bitcoin Price on the Brink: $100K Breakthrough Imminent?"},"content":{"rendered":"

Bitcoin price is recovering higher above the $96,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,800 level.<\/em><\/p>\n

Bitcoin started a fresh increase above the $96,000 zone.
\nThe price is trading above $96,500 and the 100 hourly Simple moving average.
\nThere was a break above a short-term bearish trend line with resistance at $96,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $98,000 resistance zone.<\/p>\n

Bitcoin Price Eyes Key Upside Break<\/h2>\n

Bitcoin price remained stable<\/a> above the $94,500 zone. BTC formed a base and started a fresh increase above the $95,000 resistance zone. The bulls were able to push the price above the $96,000 resistance zone.<\/p>\n

There was a break above a short-term bearish trend line with resistance at $96,400 on the hourly chart of the BTC\/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward move from the $98,670 swing high to the $95,754 low.<\/p>\n

Bitcoin price is now trading above $96,500 and the 100 hourly Simple moving average<\/a>. On the upside, the price could face resistance near the $98,000 level. It is near the 76.4% Fib retracement level of the downward move from the $98,670 swing high to the $95,754 low.<\/p>\n

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

The first key resistance is near the $98,800 level. A clear move above the $98,800 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 in the coming sessions.<\/p>\n

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

If Bitcoin fails to rise above the $98,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $97,200 level.<\/p>\n

The first major support is near the $96,500 level. The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,500 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 $96,500, followed by $95,000.<\/p>\n

Major Resistance Levels \u2013 $98,000, and $98,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is recovering higher above the $96,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,800 level. Bitcoin started a fresh increase above the $96,000 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":24934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-24933","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\/24933"}],"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=24933"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/24933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/24934"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}