{"id":43390,"date":"2025-02-11T03:00:02","date_gmt":"2025-02-11T03:00:02","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=43390"},"modified":"2025-02-11T03:00:02","modified_gmt":"2025-02-11T03:00:02","slug":"bitcoin-price-at-a-crossroads-will-it-smash-resistance-and-climb","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=43390","title":{"rendered":"Bitcoin Price at a Crossroads: Will It Smash Resistance and Climb?"},"content":{"rendered":"

Bitcoin price is consolidating above the $96,200 support zone. BTC is showing a few positive signs and might attempt to rally above $99,000.<\/em><\/p>\n

Bitcoin started a decent recovery wave above the $95,000 level.
\nThe price is trading above $96,000 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $98,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $98,000 zone.<\/p>\n

Bitcoin Price Eyes Fresh Increase<\/h2>\n

Bitcoin price failed to continue higher above the $100,500 zone. It started another decline<\/a> below the $97,500 zone. BTC gained bearish momentum for a move below the $96,000 and $95,000 levels.<\/p>\n

There was also a spike below the 61.8% Fib retracement level of the upward wave from the $91,000 swing low to the $102,500 high. The price tested the $95,000 zone and recently recovered some losses. There was a move above the $96,000 level.<\/p>\n

Bitcoin price is now trading above $97,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $98,000 level. There is also a connecting bearish trend line forming with resistance at $98,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The first key resistance is near the $99,000 level. The next key resistance could be $100,000. A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $101,200 resistance level. Any more gains might send the price toward the $102,500 level.<\/p>\n

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

If Bitcoin fails to rise above the $98,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,500 level. The first major support is near the $95,500 level.<\/p>\n

The next support is now near the $93,700 zone or the 76.4% Fib retracement level of the upward wave from the $91,000 swing low to the $102,500 high. Any more losses might send the price toward the $92,000 support in the near term. The main support sits at $91,000.<\/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 $96,500, followed by $95,500.<\/p>\n

Major Resistance Levels \u2013 $98,000 and $100,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is consolidating above the $96,200 support zone. BTC is showing a few positive signs and might attempt to rally above $99,000. Bitcoin started a decent recovery wave above the $95,000 level. The price is trading above $96,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":43391,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-43390","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\/43390"}],"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=43390"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43390\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/43391"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}