{"id":25539,"date":"2024-12-04T02:36:46","date_gmt":"2024-12-04T02:36:46","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=25539"},"modified":"2024-12-04T02:36:46","modified_gmt":"2024-12-04T02:36:46","slug":"bitcoin-price-95k-plateau-whats-next-for-crypto","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=25539","title":{"rendered":"Bitcoin Price $95K Plateau: What\u2019s Next for Crypto?"},"content":{"rendered":"

Bitcoin prices consolidate near the $95,000 level. BTC must clear the $96,500 resistance zone to attempt a fresh increase in the near term.<\/em><\/p>\n

Bitcoin is holding gains above the $93,500 zone.
\nThe price is trading below $96,500 and the 100 hourly Simple moving average.
\nThere was a break above a short-term bearish trend line with resistance at $96,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $96,500 resistance zone.<\/p>\n

Bitcoin Price Faces Resistance<\/h2>\n

Bitcoin price attempted to clear the $96,500 resistance zone<\/a>. However, the bears remained in action and BTC corrected lower. There was a move below the $94,500 support zone.<\/p>\n

The price even spiked below $94,000. A low was formed at $93,565 and the price is now attempting a fresh increase. There was a decent move above the $95,000 level. The price climbed above the 50% Fib retracement level of the downward move from the $97,395 swing high to the $93,565 low.<\/p>\n

There was a break above a short-term bearish trend line with resistance at $96,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, the price could face resistance near the $96,500 level. It is close to the 76.4% Fib retracement level of the downward move from the $97,395 swing high to the $93,565 low. The first key resistance is near the $96,800 level. A clear move above the $96,800 resistance might send the price higher.<\/p>\n

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

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

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

If Bitcoin fails to rise above the $96,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,500 level.<\/p>\n

The first major support is near the $95,000 level. The next support is now near the $93,500 zone. 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 losing pace in the bullish zone.<\/p>\n

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

Major Support Levels \u2013 $95,500, followed by $93,500.<\/p>\n

Major Resistance Levels \u2013 $96,500, and $98,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin prices consolidate near the $95,000 level. BTC must clear the $96,500 resistance zone to attempt a fresh increase in the near term. Bitcoin is holding gains above the $93,500 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":25540,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-25539","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\/25539"}],"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=25539"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/25539\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/25540"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25539"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25539"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25539"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}