{"id":31184,"date":"2024-12-26T02:50:21","date_gmt":"2024-12-26T02:50:21","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31184"},"modified":"2024-12-26T02:50:21","modified_gmt":"2024-12-26T02:50:21","slug":"bitcoin-price-targets-key-breakout-bulls-eye-upside-momentum","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31184","title":{"rendered":"Bitcoin Price Targets Key Breakout: Bulls Eye Upside Momentum"},"content":{"rendered":"

Bitcoin price started a decent increase above the $96,000 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 $96,000 zone.
\nThe price is trading above $96,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $98,500 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 Could Regain Momentum<\/h2>\n

Bitcoin price started a decent upward move<\/a> above the $95,000 resistance zone. BTC was able to climb above the $96,500 and $97,000 resistance levels.<\/p>\n

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. There was a test of the 23.6% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high.<\/p>\n

Bitcoin price is now trading above $96,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $99,200 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 $102,200 resistance level. Any more gains might send the price toward the $103,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $100,000 resistance zone, it could continue to move down. Immediate support on the downside is near the $98,200 level and the trend line.<\/p>\n

The first major support is near the $96,000 level or the 50% Fib retracement level of the upward wave from the $92,415 swing low to the $99,400 high. The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,200 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 decent increase above the $96,000 level. BTC might continue to rise if it clears the $100,00 resistance zone. Bitcoin started a decent upward move above the $96,000 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support […]<\/p>\n","protected":false},"author":0,"featured_media":31185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31184","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\/31184"}],"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=31184"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31185"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}