{"id":26798,"date":"2024-12-09T02:46:38","date_gmt":"2024-12-09T02:46:38","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=26798"},"modified":"2024-12-09T02:46:38","modified_gmt":"2024-12-09T02:46:38","slug":"bitcoin-price-at-crossroads-will-it-stabilize-and-surge-again","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=26798","title":{"rendered":"Bitcoin Price At Crossroads: Will It Stabilize and Surge Again?"},"content":{"rendered":"

Bitcoin price recovered losses and climbed above $95,000. BTC is now consolidating and facing hurdles near the $101,250 resistance zone.<\/em><\/p>\n

Bitcoin started a fresh increase after it dropped toward the $90,000 zone.
\nThe price is trading below $100,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $99,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could regain momentum if it closes above the $101,250 resistance zone.<\/p>\n

Bitcoin Price Holds Key Support<\/h2>\n

Bitcoin price started another increase<\/a> above the $95,500 resistance zone. BTC was able to clear the $96,500 and $98,000 resistance levels.<\/p>\n

The bulls were able to push the price above the 61.8% Fib retracement level of the downward wave from the $104,015 swing high to the $91,800 low. However, the bears seem to be active above the $101,000 level. They protected a close above the $102,000 level.<\/p>\n

The price struggled to settle above the 76.4% Fib retracement level of the downward wave from the $104,015 swing high to the $91,800 low.<\/p>\n

Bitcoin price is now trading below $100,500 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support at $99,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

On the upside, the price could face resistance near the $100,000 level. The first key resistance is near the $101,250 level. A clear move above the $101,250 resistance might send the price higher. The next key resistance could be $102,000.<\/p>\n

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

A close above the $102,000 resistance might send the price further higher. In the stated case, the price could rise and test the $104,200 resistance level. Any more gains might send the price toward the $108,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $101,250 resistance zone, it could start another downside correction. Immediate support on the downside is near the $99,000 level and the trend line.<\/p>\n

The first major support is near the $97,800 level. The next support is now near the $96,000 zone. Any more losses might send the price toward the $95,000 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 $99,000, followed by $97,800.<\/p>\n

Major Resistance Levels \u2013 $100,000, and $101,250.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price recovered losses and climbed above $95,000. BTC is now consolidating and facing hurdles near the $101,250 resistance zone. Bitcoin started a fresh increase after it dropped toward the $90,000 zone. The price is trading below $100,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support […]<\/p>\n","protected":false},"author":0,"featured_media":26799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-26798","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\/26798"}],"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=26798"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/26798\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/26799"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26798"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26798"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26798"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}