{"id":32878,"date":"2025-01-03T02:31:35","date_gmt":"2025-01-03T02:31:35","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=32878"},"modified":"2025-01-03T02:31:35","modified_gmt":"2025-01-03T02:31:35","slug":"bitcoin-price-displays-power-could-this-be-the-start-of-a-surge","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=32878","title":{"rendered":"Bitcoin Price Displays Power: Could This Be the Start of a Surge?"},"content":{"rendered":"

Bitcoin price is recovering losses above the $95,000 zone. BTC is gaining pace and might continue higher if it clears the $98,000 resistance zone.<\/em><\/p>\n

Bitcoin started a fresh recovery above the $95,500 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 $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 $95,000 support zone.<\/p>\n

Bitcoin Price Recovers Further<\/h2>\n

Bitcoin price started a decent upward<\/a> move above the $93,200 resistance zone. BTC was able to climb above the $94,200 and $95,000 resistance levels.<\/p>\n

The price was able to clear many hurdles near the $96,500 level. It even spiked above $97,500. A high was formed at $97,719 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent upward move from the $92,588 swing low to the $97,719 high.<\/p>\n

There is also a connecting bullish trend line forming with support at $95,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $95,500 and the 100 hourly Simple moving average<\/a>. The trend line is near the 50% Fib retracement level of the recent upward move from the $92,588 swing low to the $97,719 high.<\/p>\n

On the upside, immediate resistance is near the $97,500 level. The first key resistance is near the $98,000 level. A clear move above the $98,000 resistance might send the price higher.<\/p>\n

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

The next key resistance could be $98,800. A close above the $98,800 resistance might send the price further higher. In the stated case, the price could rise and test the $99,500 resistance level. Any more gains might send the price toward the $100,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $98,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,500 level.<\/p>\n

The first major support is near the $95,000 level. The next support is now near the $94,550 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 $96,500, followed by $95,500.<\/p>\n

Major Resistance Levels \u2013 $97,500 and $98,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is recovering losses above the $95,000 zone. BTC is gaining pace and might continue higher if it clears the $98,000 resistance zone. Bitcoin started a fresh recovery above the $95,500 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":32879,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-32878","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\/32878"}],"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=32878"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/32878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/32879"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}