{"id":44071,"date":"2025-02-13T02:43:09","date_gmt":"2025-02-13T02:43:09","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=44071"},"modified":"2025-02-13T02:43:09","modified_gmt":"2025-02-13T02:43:09","slug":"bitcoin-price-stuck-in-consolidation-is-a-big-move-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=44071","title":{"rendered":"Bitcoin Price Stuck In Consolidation\u2014Is a Big Move Coming?"},"content":{"rendered":"

Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term.<\/em><\/p>\n

Bitcoin started a fresh increase from the $94,200 zone.
\nThe price is trading above $96,500 and the 100 hourly Simple moving average.
\nThere was a break above a connecting bearish trend line with resistance at $96,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it clears the $98,500 zone.<\/p>\n

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

Bitcoin price extended losses below the $95,000 support level<\/a>. BTC tested the $94,200 zone. A low was formed at $94,111 and the price recently started a fresh increase within a range.<\/p>\n

There was a move above the $95,000 and $96,000 levels. The price cleared the 50% Fib retracement level of the downward move from the $98,440 swing high to the $94,111 low. There was a break above a connecting bearish trend line with resistance at $96,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading above $96,500 and the 100 hourly Simple moving average<\/a>. It is also above the 61.8% Fib retracement level of the downward move from the $98,440 swing high to the $94,111 low.<\/p>\n

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

On the upside, immediate resistance is near the $98,000 level. The first key resistance is near the $98,500 level. The next key resistance could be $99,500. A close above the $99,500 resistance might send the price further higher. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $100,500 level or even $102,000.<\/p>\n

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

If Bitcoin fails to rise above the $98,500 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $97,200 level. The first major support is near the $96,750 level.<\/p>\n

The next support is now near the $96,200 zone. Any more losses might send the price toward the $95,000 support in the near term. The main support sits at $94,200.<\/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 $96,200, followed by $95,000.<\/p>\n

Major Resistance Levels \u2013 $98,000 and $98,500.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There was a break above a connecting bearish […]<\/p>\n","protected":false},"author":0,"featured_media":44072,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-44071","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\/44071"}],"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=44071"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44071\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/44072"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44071"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44071"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44071"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}