{"id":27775,"date":"2024-12-12T02:41:24","date_gmt":"2024-12-12T02:41:24","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27775"},"modified":"2024-12-12T02:41:24","modified_gmt":"2024-12-12T02:41:24","slug":"bitcoin-price-reclaims-100k-is-the-bull-run-back-on","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27775","title":{"rendered":"Bitcoin Price Reclaims $100K: Is the Bull Run Back On?"},"content":{"rendered":"

Bitcoin price remained supported above the $95,500 zone. BTC is up over 5% and is now trading above the $100,00 resistance zone.<\/em><\/p>\n

Bitcoin started a fresh increase above the $97,500 zone.
\nThe price is trading above $98,800 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $97,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could correct some gains before it attempts to surpass the $102,000 resistance zone.<\/p>\n

Bitcoin Price Regains Strength<\/h2>\n

Bitcoin price formed a base and started a fresh increase<\/a> above the $98,000 zone. There was a move above the $98,800 and $99,200 levels.<\/p>\n

During the increase, there was a break above a key bearish trend line with resistance at $97,500 on the hourly chart of the BTC\/USD pair. The pair even cleared the $100,000 level. A high was formed at $101,900 and the price is now consolidating gains<\/a>.<\/p>\n

It is slowly moving lower toward the 23.6% Fib retracement level of the recent wave from the $94,314 swing low to the $101,900 high. Bitcoin price is now trading above $100,000 and the 100 hourly Simple moving average.<\/p>\n

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

On the upside, the price could face resistance near the $101,400 level. The first key resistance is near the $102,000 level. A clear move above the $102,000 resistance might send the price higher. The next key resistance could be $104,000. A close above the $104,000 resistance might send the price further higher. In the stated case, the price could rise and test the $105,000 resistance level. Any more gains might send the price toward the $108,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $102,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $100,000 level.<\/p>\n

The first major support is near the $98,200 level or the 50% Fib retracement level of the recent wave from the $94,314 swing low to the $101,900 high. The next support is now near the $97,250 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 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 $100,200, followed by $98,200.<\/p>\n

Major Resistance Levels \u2013 $102,000, and $104,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price remained supported above the $95,500 zone. BTC is up over 5% and is now trading above the $100,00 resistance zone. Bitcoin started a fresh increase above the $97,500 zone. The price is trading above $98,800 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":27776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27775","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\/27775"}],"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=27775"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27776"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}