Bitcoin Price Rips Higher $100K Narrative Gathers Pace

This is the new price of Bitcoin that began to surge above $92,500. Trader BTC is trading above $95,000 and trying to close for another $100k increase.

• Bitcoin started a decent increase above $92,000 and $94,500.
• The price is trading above $95,000 and the 100 hourly Simple moving average.
  This was a violation of’resistance’ against the contracting triangle at $92,000 on the hourly chart of BTC/USD pair (data feed from Kraken) *
• The pair might continue to move up if it stays above the $94,000 zone.

Bitcoin Price Gains Over 4%

The Bitcoin price remained above the $90,500 mark and began a new rise in bitcoin. BTC settled more than $92,000 and $92,500.

This was the hourly chart of BTC/USD pair, which broke over a contracting triangle with resistance at $92,000. bulls could push the price above $93,500,500. In the end, it jumped over $96,000. At $96,476, a high was set up and the price is now consolidating gains above the 23-year-old, which has been building up. The new wave from the $89,995 swing low to $96,476 high was retracement level of 6% Fib by .

Today, Bitcoin is trading above $95,000 with a 100 hourly Simple moving average. It could try a new hike if it’s still above $94,500 – and unless the price is stable, that would be another step. Near the $96,000 level of immediate resistance is immediate resistance. The introductory key resistance is close to the $96,500 level of .

The next resistance could be $96,800, or less. A close over the $96,800 resistance could push the price further up. However, in the case of s, it could be more expensive and test the $98,000 resistance. If any further gains could push the price toward the $98,500 mark,. bulls would be able to enter $99,000 and $100,000 as their next barrier for the bull, .

Another Drop In BTC?

If Bitcoin doesn’t rise above the $96,000 resistance zone, it could be another decline if it isn’T just shy of that. Support for is close to $95,000, but immediate support is near the level of immediate support. The first major support is near the $94,500 level of .

The new wave from $89,995 swing low to $96,476 high is now near the $93,200 zone or 50% Fib retracement level of this support for the next support. A loss of any more could cost the price on a new $92,500 support in the near term. Main support is $91,500, below which BTC could 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 – $95,000, followed by $94,500.

Major Resistance Levels – $96,000 and $96,800.

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