{"id":66749,"date":"2025-05-16T02:32:00","date_gmt":"2025-05-16T02:32:00","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=66749"},"modified":"2025-05-16T02:32:00","modified_gmt":"2025-05-16T02:32:00","slug":"bitcoin-price-looks-upward-is-the-next-leg-higher-starting","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=66749","title":{"rendered":"Bitcoin Price Looks Upward \u2014 Is the Next Leg Higher Starting?"},"content":{"rendered":"

Bitcoin price started a fresh increase and cleared the $103,500 zone. BTC is now consolidating and might aim to clear the $105,000 zone.<\/em><\/p>\n

Bitcoin started a fresh upward move from the $101,500 zone.
\nThe price is trading above $103,000 and the 100 hourly Simple moving average.
\nThere was a break above a connecting bearish trend line with resistance at $103,950 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could gain bullish momentum if it clears the $105,000 resistance.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price started a fresh increase from the $101,500 support zone<\/a>. BTC formed a base and was able to clear the $102,500 resistance zone. The bulls even pushed the price above $103,200.<\/p>\n

There was a move above the 50% Fib retracement level of the downward move from the $104,980 swing high to the $101,441 low. Besides, there was a break above a connecting bearish trend line with resistance at $103,950 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading above $103,200 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $104,150 level or the 76.4% Fib retracement level of the downward move from the $104,980 swing high to the $101,441 low.<\/p>\n

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

The first key resistance is near the $105,000 level. The next key resistance could be $105,500. A close above the $105,500 resistance might send the price further higher. In the stated case, the price could rise and test the $106,500 resistance level. Any more gains might send the price toward the $108,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $104,200 resistance zone, it could start another correction in the short term. Immediate support on the downside is near the $103,200 level and the 100 hourly Simple moving average. The first major support is near the $102,500 level.<\/p>\n

The next support is now near the $101,500 zone. Any more losses might send the price toward the $100,000 support in the near term. The main support sits at $98,800, below which BTC might gain bearish momentum.<\/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 $102,500, followed by $101,500.<\/p>\n

Major Resistance Levels \u2013 $104,200 and $105,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh increase and cleared the $103,500 zone. BTC is now consolidating and might aim to clear the $105,000 zone. Bitcoin started a fresh upward move from the $101,500 zone. The price is trading above $103,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend […]<\/p>\n","protected":false},"author":0,"featured_media":66750,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-66749","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\/66749"}],"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=66749"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/66749\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/66750"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}