{"id":70817,"date":"2025-06-02T00:58:16","date_gmt":"2025-06-02T00:58:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=70817"},"modified":"2025-06-02T00:58:16","modified_gmt":"2025-06-02T00:58:16","slug":"bitcoin-price-eyes-new-gains-is-the-next-leg-higher-starting","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=70817","title":{"rendered":"Bitcoin Price Eyes New Gains \u2014 Is the Next Leg Higher Starting?"},"content":{"rendered":"

Bitcoin price started a fresh decline and tested the $103,200 zone. BTC is now consolidating and might aim for a recovery wave above $106,000.<\/em><\/p>\n

Bitcoin started a fresh decline below the $106,500 zone.
\nThe price is trading above $105,000 and the 100 hourly Simple moving average.
\nThere is a connecting bearish trend line forming with resistance at $105,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair could start a fresh increase if it clears the $106,000 resistance zone.<\/p>\n

Bitcoin Price Eyes Upside Break<\/h2>\n

Bitcoin price started a fresh decline and traded below the $106,500 support zone<\/a>. BTC even traded below the $105,500 level and tested the next support at $103,200.<\/p>\n

A low was formed at $103,200 and the price is now consolidating losses. There was a move above the $104,200 level and the 23.6% Fib retracement level of the recent decline from the $110,500 swing high to the $103,200 low.<\/p>\n

Bitcoin is now trading above $105,000 and the 100 hourly Simple moving average<\/a>. On the upside, immediate resistance is near the $105,550 level. There is also a key bearish trend line forming with resistance at $105,550 on the hourly chart of the BTC\/USD pair.<\/p>\n

The first key resistance is near the $106,000 level. The next key resistance could be $106,800. It is close to the 50% Fib retracement level of the recent decline from the $110,500 swing high to the $103,200 low.<\/p>\n

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

A close above the $106,800 resistance might send the price further higher. In the stated case, the price could rise and test the $108,000 resistance level. Any more gains might send the price toward the $110,000 level.<\/p>\n

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

If Bitcoin fails to rise above the $106,000 resistance zone, it could start another decline. Immediate support is near the $105,000 level. The first major support is near the $104,200 level.<\/p>\n

The next support is now near the $103,200 zone. Any more losses might send the price toward the $102,500 support in the near term. The main support sits at $101,200, 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 $105,000, followed by $104,200.<\/p>\n

Major Resistance Levels \u2013 $106,000 and $106,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price started a fresh decline and tested the $103,200 zone. BTC is now consolidating and might aim for a recovery wave above $106,000. Bitcoin started a fresh decline below the $106,500 zone. The price is trading above $105,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":70818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-70817","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\/70817"}],"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=70817"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/70817\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/70818"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=70817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=70817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=70817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}