{"id":40514,"date":"2025-01-31T02:42:27","date_gmt":"2025-01-31T02:42:27","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=40514"},"modified":"2025-01-31T02:42:27","modified_gmt":"2025-01-31T02:42:27","slug":"bitcoin-price-comeback-meets-resistance-breakout-or-rejection","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=40514","title":{"rendered":"Bitcoin Price Comeback Meets Resistance: Breakout or Rejection?"},"content":{"rendered":"

Bitcoin price started a fresh upward move above $103,200. BTC is now correcting gains and might revisit the $102,000 support zone.<\/em><\/p>\n

Bitcoin started a decent upward move above the $103,200 zone.
\nThe price is trading above $103,000 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $103,500 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $102,000 zone.<\/p>\n

Bitcoin Price Recovers Above $102,000<\/h2>\n

Bitcoin price started a decent increase above the $101,500 resistance zone<\/a>. BTC was able to surpass the $102,200 and $103,200 resistance levels to move into a positive zone.<\/p>\n

It even cleared the $104,500 resistance zone. The pair settled in a positive zone and now faces hurdles near the $106,500 zone. A high was formed at $106,414 and the price is now correcting gains. There was a move below the $105,000 level.<\/p>\n

It is now testing the 23.6% Fib retracement level of the upward move<\/a> from the $97,688 swing low to the $106,414 high. Bitcoin price is now trading above $103,000 and the 100 hourly Simple moving average.<\/p>\n

There is also a key bullish trend line forming with support at $103,500 on the hourly chart of the BTC\/USD pair. On the upside, immediate resistance is near the $105,500 level. The first key resistance is near the $106,500 level. The next key resistance could be $107,000.<\/p>\n

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

A close above the $107,000 resistance might send the price further higher. In the stated case, the price could rise and test the $108,800 resistance level. Any more gains might send the price toward the $110,000 level.<\/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 $103,500 level. The first major support is near the $102,500 level and the 50% Fib retracement level of the upward move from the $97,688 swing low to the $106,414 high.<\/p>\n

The next support is now near the $102,000 zone. Any more losses might send the price toward the $100,500 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 above the 50 level.<\/p>\n

Major Support Levels \u2013 $103,500, followed by $102,500.<\/p>\n

Major Resistance Levels \u2013 $105,500 and $106,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh upward move above $103,200. BTC is now correcting gains and might revisit the $102,000 support zone. Bitcoin started a decent upward move above the $103,200 zone. The price is trading above $103,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at […]<\/p>\n","protected":false},"author":0,"featured_media":40515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-40514","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\/40514"}],"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=40514"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/40514\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/40515"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}