{"id":36238,"date":"2025-01-16T02:40:18","date_gmt":"2025-01-16T02:40:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36238"},"modified":"2025-01-16T02:40:18","modified_gmt":"2025-01-16T02:40:18","slug":"bitcoin-price-reaches-100k-a-make-or-break-moment-for-bulls","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36238","title":{"rendered":"Bitcoin Price Reaches $100K: A Make-or-Break Moment for Bulls"},"content":{"rendered":"

Bitcoin price is attempting a recovery wave above the $98,000 zone. BTC is rising and now struggles to settle above the $100,000 zone.<\/em><\/p>\n

Bitcoin started a recovery wave above the $98,000 zone.
\nThe price is trading above $98,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support at $98,000 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 Tests Hurdles At $100K<\/h2>\n

Bitcoin price started a short-term recovery wave<\/a> above the $95,000 zone. BTC was able to climb above the $96,500 and $97,200 levels.<\/p>\n

The bulls were able to push the price above the key barrier at $98,000. The price even cleared $98,800. A high was formed at $100,731 and the price is now consolidating gains and is well above the 23.6% Fib retracement level of the upward move from the $89,114 swing low to the $100,731 high.<\/p>\n

There is also a connecting bullish trend line forming with support at $98,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $98,800 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $100,000 level. The first key resistance is near the $100,500 level. A clear move above the $100,500 resistance might send the price higher. The next key resistance could be $104,000.<\/p>\n

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

A close above the $104,000 resistance might send the price further higher. In the stated case, the price could rise and test the $106,000 resistance level. Any more gains might send the price toward the $108,500 level.<\/p>\n

Downside Correction 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 $98,000 level and the trend line. The first major support is near the $97,350 level.<\/p>\n

The next support is now near the $95,000 zone or the 50% Fib retracement level of the upward move from the $89,114 swing low to the $100,731 high. 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 $98,000, followed by $97,350.<\/p>\n

Major Resistance Levels \u2013 $100,000 and $100,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is attempting a recovery wave above the $98,000 zone. BTC is rising and now struggles to settle above the $100,000 zone. Bitcoin started a recovery wave above the $98,000 zone. The price is trading above $98,500 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":36239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36238","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\/36238"}],"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=36238"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/36239"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}