{"id":33442,"date":"2025-01-06T05:53:54","date_gmt":"2025-01-06T05:53:54","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=33442"},"modified":"2025-01-06T05:53:54","modified_gmt":"2025-01-06T05:53:54","slug":"bitcoin-price-climbs-is-this-the-start-of-a-bigger-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=33442","title":{"rendered":"Bitcoin Price Climbs: Is This the Start of a Bigger Rally?"},"content":{"rendered":"

Bitcoin price is recovering losses above the $98,000 zone. BTC is gaining pace and might continue higher if it clears the $100,000 resistance zone.<\/em><\/p>\n

Bitcoin started a fresh recovery above the $97,500 zone.
\nThe price is trading above $97,800 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $97,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $97,500 support zone.<\/p>\n

Bitcoin Price Recovers Further<\/h2>\n

Bitcoin price started a decent upward move above the $95,500 resistance zone<\/a>. BTC was able to climb above the $96,200 and $97,000 resistance levels.<\/p>\n

The price was able to clear many hurdles near the $98,500 level. It even spiked above $99,500. A high was formed at $99.739 and the price is now consolidating gains<\/a> above the 23.6% Fib retracement level of the recent upward move from the $97,250 swing low to the $99,793 high.<\/p>\n

There is also a connecting bullish trend line forming with support at $97,800 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $97,500 and the 100 hourly Simple moving average. The trend line is near the 76.4% Fib retracement level of the recent upward move from the $97,250 swing low to the $99,793 high.<\/p>\n

On the upside, immediate resistance is near the $99,800 level. The first key resistance is near the $100,000 level. A clear move above the $100,000 resistance might send the price higher.<\/p>\n

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

The next key resistance could be $102,500. A close above the $102,500 resistance might send the price further higher. In the stated case, the price could rise and test the $105,00 resistance level. Any more gains might send the price toward the $108,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $100,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $98,500 level.<\/p>\n

The first major support is near the $97,800 level. The next support is now near the $96,550 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 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 $98,500, followed by $96,550.<\/p>\n

Major Resistance Levels \u2013 $99,800 and $100,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is recovering losses above the $98,000 zone. BTC is gaining pace and might continue higher if it clears the $100,000 resistance zone. Bitcoin started a fresh recovery above the $97,500 zone. The price is trading above $97,800 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":33443,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33442","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\/33442"}],"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=33442"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33442\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/33443"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}