{"id":39868,"date":"2025-01-29T02:45:51","date_gmt":"2025-01-29T02:45:51","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=39868"},"modified":"2025-01-29T02:45:51","modified_gmt":"2025-01-29T02:45:51","slug":"bitcoin-price-faces-tough-resistance-a-breakout-in-the-cards","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=39868","title":{"rendered":"Bitcoin Price Faces Tough Resistance: A Breakout In The Cards?"},"content":{"rendered":"

Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break.<\/em><\/p>\n

Bitcoin started a decent upward move above the $100,000 zone.
\nThe price is trading below $103,200 and the 100 hourly Simple moving average.
\nThere is a key bearish trend line forming with resistance at $102,800 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another decline if it stays below the $103,000 zone.<\/p>\n

Bitcoin Price Holds Support<\/h2>\n

Bitcoin price started a fresh decline<\/a> below the $103,000 and $102,500 levels. BTC even dipped below the $100,000 level before the bulls appeared. A low was formed at $97,688 and the price is now correcting losses.<\/p>\n

There was a move above the $99,800 and $100,500 levels. The bulls pushed the price above the 50% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low. However, the bears are active near the $103,000 zone.<\/p>\n

There is also a key bearish trend line forming with resistance at $102,800 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below $103,200 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $102,500 level. The first key resistance is near the $103,000 level. The next key resistance could be $103,500 and the 61.8% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low.<\/p>\n

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

A close above the $103,500 resistance might send the price further higher. In the stated case, the price could rise and test the $105,000 resistance level. Any more gains might send the price toward the $107,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $103,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $101,200 level. The first major support is near the $100,500 level.<\/p>\n

The next support is now near the $100,000 zone. Any more losses might send the price toward the $88,800 support in the near term.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n

Major Support Levels \u2013 $101,200, followed by $100,500.<\/p>\n

Major Resistance Levels \u2013 $102,500 and $103,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":39869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-39868","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\/39868"}],"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=39868"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/39868\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/39869"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}