{"id":31009,"date":"2024-12-25T03:16:10","date_gmt":"2024-12-25T03:16:10","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31009"},"modified":"2024-12-25T03:16:10","modified_gmt":"2024-12-25T03:16:10","slug":"bitcoin-price-comeback-can-it-regain-ground","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31009","title":{"rendered":"Bitcoin Price Comeback: Can It Regain Ground?"},"content":{"rendered":"

Bitcoin price started a recovery wave above the $95,000 level. BTC might continue to rise if it clears the $100,00 resistance zone.<\/em><\/p>\n

Bitcoin started a decent upward move above the $95,000 zone.
\nThe price is trading above $95,000 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $95,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $96,000 support zone.<\/p>\n

Bitcoin Price Starts Recovery<\/h2>\n

Bitcoin price remained supported near $92,500<\/a> and started a recovery wave. BTC was able to climb above the $94,500 and $95,000 resistance levels.<\/p>\n

There was a break above a key bearish trend line with resistance at $95,000 on the hourly chart of the BTC\/USD pair. The pair cleared the $98,000 resistance level and traded close to the $100,000 resistance level. A high was formed at $99,400 and the price is now consolidating gains.<\/p>\n

It declined a few points below the 23.6% Fib retracement level of the upward move from the $92,417 swing low to the $99,400 high. Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $99,000 level. The first key resistance is near the $99,500 level or the recent high. A clear move above the $99,500 resistance might send the price higher. The next key resistance could be $100,000.<\/p>\n

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

A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $102,500 resistance level. Any more gains might send the price toward the $104,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $99,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $97,000 level.<\/p>\n

The first major support is near the $96,000 level or the 50% Fib retracement level of the upward move from the $92,417 swing low to the $99,400 high. The next support is now near the $93,200 zone. Any more losses might send the price toward the $92,500 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 $97,000, followed by $96,000.<\/p>\n

Major Resistance Levels \u2013 $99,000 and $100,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a recovery wave above the $95,000 level. BTC might continue to rise if it clears the $100,00 resistance zone. Bitcoin started a decent upward move above the $95,000 zone. The price is trading above $95,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line […]<\/p>\n","protected":false},"author":0,"featured_media":31010,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31009","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\/31009"}],"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=31009"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31009\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31010"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}