The post Bitcoin Price Comeback: Can It Regain Ground? appeared on BitcoinEthereumNews.com.

Bitcoin price started a recovery wave above the $95,000 level. BTC might continue to rise if it clears the $100,00 resistance zone. Bitcoin started a decent upward move above the $95,000 zone. The price is trading above $95,000 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $95,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $96,000 support zone. Bitcoin Price Starts Recovery Bitcoin price remained supported near $92,500 and started a recovery wave. BTC was able to climb above the $94,500 and $95,000 resistance levels. There was a break above a key bearish trend line with resistance at $95,000 on the hourly chart of the BTC/USD pair. The pair cleared the $98,000 resistance level and traded close to the $100,000 resistance level. A high was formed at $99,400 and the price is now consolidating gains. It declined a few points below the 23.6% Fib retracement level of the upward move from the $92,417 swing low to the $99,400 high. Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $99,000 level. The first key resistance is near the $99,500 level or the recent high. A clear move above the $99,500 resistance might send the price higher. The next key resistance could be $100,000. Source: BTCUSD on TradingView.com A close above the $100,000 resistance might send the price further higher. In the stated case, the price could rise and test the $102,500 resistance level. Any more gains might send the price toward the $104,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $99,000 resistance zone, it could continue…

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Filed under: News - @ December 25, 2024 3:23 am