Bitcoin Price Clears the Ceiling—Is $100K the Next Test?
Bitcoin price started a fresh increase above $95,500. BTC is trading above $96,000 and might soon aim for a move to $100k in the near term. The next 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 $98,800 resistance. Any more gains might send the price toward the $99,500 level. The next barrier for the bulls could be $99,800 and $100,000. If Bitcoin fails to rise above the $97,200 resistance zone, it could start another decline. Immediate support is near the $96,000 level. The first major support is near the $95,250 level and the trend line. The next support is now near the $94,000 zone or the 50% Fib retracement level of the recent wave from the $89,995 swing low to the $97,898 high. Any more losses might send the price toward the $93,000 support in the near term. The main support sits at $92,500, below which BTC might accelerate lower in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $96,000, followed by $95,250. Major Resistance Levels – $97,200 and $97,800.Another Drop In BTC?
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