{"id":40184,"date":"2025-01-30T02:35:19","date_gmt":"2025-01-30T02:35:19","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=40184"},"modified":"2025-01-30T02:35:19","modified_gmt":"2025-01-30T02:35:19","slug":"bitcoin-price-displays-bullish-signs-a-recovery-in-the-making","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=40184","title":{"rendered":"Bitcoin Price Displays Bullish Signs: A Recovery In The Making?"},"content":{"rendered":"

Bitcoin price started a fresh upward move above $102,000. BTC is rising and might gain pace for a move above the $105,000 resistance zone.<\/em><\/p>\n

Bitcoin started a decent upward move above the $102,000 zone.
\nThe price is trading above $103,500 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $102,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another decline if it stays below the $105,000 zone.<\/p>\n

Bitcoin Price Breaks Resistance<\/h2>\n

Bitcoin price started a decent increase above the $100,000 resistance zone<\/a>. BTC was able to surpass the $102,000 and $102,200 resistance levels to move into a positive zone.<\/p>\n

There was a break above a key bearish trend line<\/a> with resistance at $102,400 on the hourly chart of the BTC\/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low. It even cleared the $103,500 resistance zone.<\/p>\n

The pair settled in a positive zone and now faces hurdles near the $105,000 zone. Bitcoin price is now trading above $103,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $104,800 level or the 76.4% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low.<\/p>\n

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

The first key resistance is near the $105,000 level. The next key resistance could be $105,500. A close above the $105,500 resistance might send the price further higher. In the stated case, the price could rise and test the $107,000 resistance level. Any more gains might send the price toward the $108,800 level in the short term.<\/p>\n

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

If Bitcoin fails to rise above the $105,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $103,200 level. The first major support is near the $102,000 level.<\/p>\n

The next support is now near the $101,200 zone. Any more losses might send the price toward the $100,000 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 $103,200, followed by $102,000.<\/p>\n

Major Resistance Levels \u2013 $105,000 and $107,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh upward move above $102,000. BTC is rising and might gain pace for a move above the $105,000 resistance zone. Bitcoin started a decent upward move above the $102,000 zone. The price is trading above $103,500 and the 100 hourly Simple moving average. There was a break above a key bearish […]<\/p>\n","protected":false},"author":0,"featured_media":40185,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40184","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\/40184"}],"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=40184"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/40184\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/40185"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}