{"id":28110,"date":"2024-12-13T02:41:17","date_gmt":"2024-12-13T02:41:17","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=28110"},"modified":"2024-12-13T02:41:17","modified_gmt":"2024-12-13T02:41:17","slug":"bitcoin-price-struggles-at-100k-is-the-rally-losing-steam","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=28110","title":{"rendered":"Bitcoin Price Struggles at $100K: Is The Rally Losing Steam?"},"content":{"rendered":"

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone.<\/em><\/p>\n

Bitcoin started a downside correction from the $102,000 zone.
\nThe price is trading above $98,000 and the 100 hourly Simple moving average.
\nThere was a break below a connecting bullish trend line with support at $101,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it stays above the $97,500 support zone.<\/p>\n

Bitcoin Price Dips Again<\/h2>\n

Bitcoin price formed a base and started a fresh increase<\/a> above the $98,800 zone. There was a move above the $99,200 and $99,500 levels.<\/p>\n

The price even cleared the $100,000 level, but the bears were active near the $102,000 zone. A high was formed at $102,500 and the price is now consolidating gains. It is slowly moving lower below the 23.6% Fib retracement level of the recent wave from the $94,315 swing low to the $102,500 high.<\/p>\n

There was a break below a connecting bullish trend line with support at $101,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $98,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, the price could face resistance near the $100,500 level. The first key resistance is near the $101,500 level. A clear move above the $101,500 resistance might send the price higher. The next key resistance could be $102,000. A close above the $102,000 resistance might send the price further higher.<\/p>\n

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

In the stated case, the price could rise and test the $104,000 resistance level. Any more gains might send the price toward the $105,000 level.<\/p>\n

More Losses In BTC?<\/h2>\n

If Bitcoin fails to rise above the $102,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $98,400 level or the 50% Fib retracement level of the recent wave from the $94,315 swing low to the $102,500 high.<\/p>\n

The first major support is near the $97,500 level. The next support is now near the $96,250 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 bearish 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 $98,400, followed by $97,500.<\/p>\n

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

Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at […]<\/p>\n","protected":false},"author":0,"featured_media":28111,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-28110","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\/28110"}],"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=28110"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/28110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/28111"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}