{"id":46116,"date":"2025-02-20T02:40:33","date_gmt":"2025-02-20T02:40:33","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=46116"},"modified":"2025-02-20T02:40:33","modified_gmt":"2025-02-20T02:40:33","slug":"bitcoin-price-edges-higher-but-remains-stuck-in-a-tight-zone","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=46116","title":{"rendered":"Bitcoin Price Edges Higher But Remains Stuck In a Tight Zone"},"content":{"rendered":"

Bitcoin price started a recovery wave above the $94,500 zone. BTC is rising within a range and might revisit the $98,000 resistance zone.<\/em><\/p>\n

Bitcoin started a decent recovery wave above the $95,500 zone.
\nThe price is trading above $96,000 and the 100 hourly Simple moving average.
\nThere was a break above a key bearish trend line with resistance at $96,700 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start another increase if it stays above the $96,000 zone.<\/p>\n

Bitcoin Price Recover Losses<\/h2>\n

Bitcoin price formed a base above the $93,500 level and started a recovery wave<\/a>. BTC was able to surpass the $94,000 and $94,200 resistance levels.<\/p>\n

There was a move above the 50% Fib retracement level of the downward move from the $98,825 swing high to the $93,288 low. Besides, there was a break above a key bearish trend line with resistance at $96,700 on the hourly chart of the BTC\/USD pair.<\/p>\n

The pair even surpassed the $96,500 level and now faces hurdles near the $96,800 zone. Bitcoin price is now trading above $96,200 and the 100 hourly Simple moving average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $96,800 level or the 61.8% Fib retracement level of the downward move from the $98,825 swing high to the $93,288 low. The first key resistance is near the $97,200 level. The next key resistance could be $98,000.<\/p>\n

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

A close above the $98,000 resistance might send the price further higher. In the stated case, the price could rise and test the $98,800 resistance level. Any more gains might send the price toward the $99,500 level or even $100,000.<\/p>\n

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

If Bitcoin fails to rise above the $97,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,100 level. The first major support is near the $96,000 level.<\/p>\n

The next support is now near the $95,500 zone. Any more losses might send the price toward the $94,200 support in the near term. The main support sits at $93,400.<\/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 $96,100, followed by $96,000.<\/p>\n

Major Resistance Levels \u2013 $97,000 and $98,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a recovery wave above the $94,500 zone. BTC is rising within a range and might revisit the $98,000 resistance zone. Bitcoin started a decent recovery wave above the $95,500 zone. The price is trading above $96,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":46117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-46116","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\/46116"}],"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=46116"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/46116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/46117"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}