{"id":32634,"date":"2025-01-02T02:57:37","date_gmt":"2025-01-02T02:57:37","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=32634"},"modified":"2025-01-02T02:57:37","modified_gmt":"2025-01-02T02:57:37","slug":"bitcoin-price-eyes-fresh-gains-can-bulls-break-through","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=32634","title":{"rendered":"Bitcoin Price Eyes Fresh Gains: Can Bulls Break Through?"},"content":{"rendered":"

Bitcoin price is recovering losses from the $91,400 zone. BTC is showing a few positive signs and might gain pace if it clears the $96,000 resistance zone.<\/em><\/p>\n

Bitcoin started a fresh recovery from the $91,400 zone.
\nThe price is trading above $92,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $94,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $93,500 support zone.<\/p>\n

Bitcoin Price Starts Recovery<\/h2>\n

Bitcoin price started a decent upward move<\/a> above the $92,000 resistance zone. BTC was able to climb above the $93,200 and $93,500 resistance levels.<\/p>\n

The price was able to surpass the 50% Fib retracement level of the recent decline from the $96,040 swing high to the $92,588 low. There is also a connecting bullish trend line forming with support at $94,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above $94,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $95,250 level. It is near the 76.4% Fib retracement level of the recent decline from the $96,040 swing high to the $92,588 low.<\/p>\n

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

The first key resistance is near the $96,000 level. A clear move above the $96,000 resistance might send the price higher. The next key resistance could be $97,500. A close above the $97,500 resistance might send the price further higher. In the stated case, the price could rise and test the $98,800 resistance level. Any more gains might send the price toward the $99,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $96,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $94,000 level and the trend line.<\/p>\n

The first major support is near the $93,500 level. The next support is now near the $92,550 zone. Any more losses might send the price toward the $91,200 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 $94,000, followed by $93,500.<\/p>\n

Major Resistance Levels \u2013 $95,250 and $96,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is recovering losses from the $91,400 zone. BTC is showing a few positive signs and might gain pace if it clears the $96,000 resistance zone. Bitcoin started a fresh recovery from the $91,400 zone. The price is trading above $92,500 and the 100 hourly Simple moving average. There is a connecting bullish trend […]<\/p>\n","protected":false},"author":0,"featured_media":32635,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-32634","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\/32634"}],"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=32634"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32634\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/32635"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}