The post Bitcoin Price Climbs Back to $100K: Is This Just the Beginning? appeared on BitcoinEthereumNews.com.

Bitcoin price started a fresh upward move above the $98,000 zone. BTC is trimming losses but might struggle to settle above the $103,000 zone. Bitcoin started a fresh upward move above the $100,000 level. The price is trading above $99,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with resistance at $96,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $100,000 zone. Bitcoin Price Reclaims $100,000 Bitcoin price started another decline below the $95,000 zone. BTC gained bearish momentum for a move below the $93,500 and $92,000 levels. It even dived below $91,000. A low was formed at $90,944 and the price recently started a decent recovery wave. There was a move above the $95,500 level. The price cleared the 50% Fib retracement level of the downward move from the $106,000 swing high to the $90,945 low. Moreover, there was a break above a key bearish trend line with resistance at $96,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $98,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $102,000 level. The first key resistance is near the $102,500 level or the 76.4% Fib retracement level of the downward move from the $106,000 swing high to the $90,945 low. The next key resistance could be $103,200. A close above the $103,200 resistance might send the price further higher. In the stated case, the price could rise and test the $105,000 resistance level. Any more gains might send the price toward the $107,000 level. Another Decline In BTC? If Bitcoin fails to rise above the $103,200 resistance zone, it could start a fresh decline.…

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Filed under: News - @ February 4, 2025 3:21 am