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Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin price is rising again above the $95,000 zone. BTC is gaining pace and might aim for a move above the $97,500 resistance zone.
- Bitcoin remained supported above the $94,500 zone.
- The price is trading above $95,000 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support at $96,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it clears the $97,500 zone.
Bitcoin Price Regains Momentum
Bitcoin price formed a base above the $93,500 level. BTC started a fresh increase and was able to clear the $95,500 resistance zone to set the pace for a larger increase.
The bulls even pushed the price above the $96,500 resistance. A high was formed at $97,405 and the price is now consolidating gains. There was a minor decline below the $97,000 level and the price tested the 23.6% Fib retracement level of the upward move from the $92,970 swing low to the $97,405 high.
Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $96,350 on the hourly chart of the BTC/USD pair.
On the upside, immediate resistance is near the $97,200 level. The first key resistance is near the $97,400 level. The next key resistance could be $97,500. A close above the $97,500 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 $100,000 level.
Another Decline In BTC?
If Bitcoin fails to rise above the $97,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $96,500 level and the trend line. The first major support is near the $96,000 level.
The next support is now near the $95,200 zone and the 50% Fib retracement level of the upward move from the $92,970 swing low to the $97,405 high. Any more losses might send the price toward the $94,500 support in the near term. The main support sits at $94,200.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $96,500, followed by $95,500.
Major Resistance Levels – $97,500 and $98,000.
Reason to trust
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin price is rising again above the $95,000 zone. BTC is gaining pace and might aim for a move above the $97,500 resistance zone.
- Bitcoin remained supported above the $94,500 zone.
- The price is trading above $95,000 and the 100 hourly Simple moving average.
- There is a connecting bullish trend line forming with support at $96,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair could start another increase if it clears the $97,500 zone.
Bitcoin Price Regains Momentum
Bitcoin price formed a base above the $93,500 level. BTC started a fresh increase and was able to clear the $95,500 resistance zone to set the pace for a larger increase.
The bulls even pushed the price above the $96,500 resistance. A high was formed at $97,405 and the price is now consolidating gains. There was a minor decline below the $97,000 level and the price tested the 23.6% Fib retracement level of the upward move from the $92,970 swing low to the $97,405 high.
Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $96,350 on the hourly chart of the BTC/USD pair.
On the upside, immediate resistance is near the $97,200 level. The first key resistance is near the $97,400 level. The next key resistance could be $97,500. A close above the $97,500 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 $100,000 level.
Another Decline In BTC?
If Bitcoin fails to rise above the $97,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $96,500 level and the trend line. The first major support is near the $96,000 level.
The next support is now near the $95,200 zone and the 50% Fib retracement level of the upward move from the $92,970 swing low to the $97,405 high. Any more losses might send the price toward the $94,500 support in the near term. The main support sits at $94,200.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $96,500, followed by $95,500.
Major Resistance Levels – $97,500 and $98,000.
