{"id":33731,"date":"2025-01-07T02:36:59","date_gmt":"2025-01-07T02:36:59","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=33731"},"modified":"2025-01-07T02:36:59","modified_gmt":"2025-01-07T02:36:59","slug":"bitcoin-price-breaks-100k-bulls-set-their-sights-higher","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=33731","title":{"rendered":"Bitcoin Price Breaks $100K: Bulls Set Their Sights Higher"},"content":{"rendered":"

Bitcoin price is recovering losses above the $100,000 zone. BTC is showing positive signs and might continue higher if it clears the $102,500 resistance zone.<\/em><\/p>\n

Bitcoin started a decent increase above the $98,800 zone.
\nThe price is trading above $100,000 and the 100 hourly Simple moving average.
\nThere is a short-term bullish trend line forming with support at $99,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $98,500 support zone.<\/p>\n

Bitcoin Price Reclaims $100K<\/h2>\n

Bitcoin price started a decent upward move<\/a> above the $96,500 resistance zone. BTC was able to climb above the $97,200 and $98,800 resistance levels.<\/p>\n

The price was able to clear many hurdles near the $100,000 level. It even spiked above $102,000. A high was formed at $102,479 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent upward move from the $97,251 swing low to the $102,479 high.<\/p>\n

There is also a short-term bullish trend line<\/a> forming with support at $99,800 on the hourly chart of the BTC\/USD pair. The trend line is close to the 50% Fib retracement level of the recent upward move from the $97,251 swing low to the $102,479 high.<\/p>\n

Bitcoin price is now trading above $100,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $102,500 level. The first key resistance is near the $103,200 level. A clear move above the $103,200 resistance might send the price higher.<\/p>\n

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

The next key resistance could be $104,500. A close above the $105,000 resistance might send the price further higher. In the stated case, the price could rise and test the $106,500 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 $102,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $101,250 level.<\/p>\n

The first major support is near the $100,000 level. The next support is now near the $98,550 zone. Any more losses might send the price toward the $96,500 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 $101,250, followed by $100,000.<\/p>\n

Major Resistance Levels \u2013 $102,500 and $103,200.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is recovering losses above the $100,000 zone. BTC is showing positive signs and might continue higher if it clears the $102,500 resistance zone. Bitcoin started a decent increase above the $98,800 zone. The price is trading above $100,000 and the 100 hourly Simple moving average. There is a short-term bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":33732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-33731","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\/33731"}],"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=33731"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/33731\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/33732"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}