{"id":44426,"date":"2025-02-14T02:46:21","date_gmt":"2025-02-14T02:46:21","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=44426"},"modified":"2025-02-14T02:46:21","modified_gmt":"2025-02-14T02:46:21","slug":"bitcoin-price-faces-strong-resistance-will-bulls-hold-their-ground","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=44426","title":{"rendered":"Bitcoin Price Faces Strong Resistance\u2014Will Bulls Hold Their Ground?"},"content":{"rendered":"

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

Bitcoin started a fresh increase from the $95,200 zone.
\nThe price is trading near $96,500 and the 100 hourly Simple moving average.
\nThere is a connecting bullish trend line forming with support 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 remained in a range above the $95,000 support level<\/a>. BTC tested the $95,200 zone. A low was formed at $95,352 and the price recently started a fresh increase within a range.<\/p>\n

There was a move above the $95,500 and $96,000 levels. The price spiked and tested the 50% Fib retracement level of the downward move from the $98,077 swing high to the $95,352 low. There is also a connecting bullish trend line forming with support at $96,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin price is now trading near $96,500 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $96,700 level. The first key resistance is near the $97,000 level or the 61.8% Fib retracement level of the downward move from the $98,077 swing high to the $95,352 low.<\/p>\n

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

The next key resistance could be $98,000. A close above the $98,000 resistance might send the price further higher. In the stated case, the price could rise and test the $98,500 resistance level. Any more gains might send the price toward the $100,000 level or even $100,500.<\/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 $96,000 level. The first major support is near the $95,500 level.<\/p>\n

The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,500 support in the near term. The main support sits at $92,200.<\/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 $96,000, followed by $95,000.<\/p>\n

Major Resistance Levels \u2013 $97,000 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 decent increase in the near term. Bitcoin started a fresh increase from the $95,200 zone. The price is trading near $96,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":44427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-44426","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\/44426"}],"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=44426"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/44426\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/44427"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=44426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=44426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=44426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}