{"id":2394,"date":"2024-12-02T14:00:25","date_gmt":"2024-12-02T14:00:25","guid":{"rendered":"https:\/\/coinscap.info\/blog\/bitcoin-price-on-the-brink-100k-breakthrough-imminent\/"},"modified":"2024-12-02T14:00:25","modified_gmt":"2024-12-02T14:00:25","slug":"bitcoin-price-on-the-brink-100k-breakthrough-imminent","status":"publish","type":"post","link":"https:\/\/coinscap.info\/blog\/bitcoin-price-on-the-brink-100k-breakthrough-imminent\/","title":{"rendered":"Bitcoin Price on the Brink: $100K Breakthrough Imminent?"},"content":{"rendered":"<p><em>Bitcoin price is recovering higher above the $96,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,800 level.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $96,000 zone.<\/li>\n<li>The price is trading above $96,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a short-term bearish trend line with resistance at $96,400 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $98,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Key Upside Break<\/h2>\n<p>Bitcoin price remained stable above the $94,500 zone. BTC formed a base and started a fresh increase above the $95,000 resistance zone. The bulls were able to push the price above the $96,000 resistance zone.<\/p>\n<p>There was a break above a short-term bearish trend line with resistance at $96,400 on the hourly chart of the BTC\/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward move from the $98,670 swing high to the $95,754 low.<\/p>\n<p>Bitcoin price is now trading above $96,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $98,000 level. It is near the 76.4% Fib retracement level of the downward move from the $98,670 swing high to the $95,754 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-656224 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin.png?resize=1024%2C478\" alt=\"Bitcoin Price \" width=\"1024\" height=\"478\" \/><\/p>\n<p>The first key resistance is near the $98,800 level. A clear move above the $98,800 resistance might send the price higher. The next key resistance could be $99,200. A close above the $99,200 resistance might initiate more gains. In the stated case, the price could rise and test the $100,000 resistance level. Any more gains might send the price toward the $102,000 level in the coming sessions.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $98,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $97,200 level.<\/p>\n<p>The first major support is near the $96,500 level. The next support is now near the $95,000 zone. Any more losses might send the price toward the $93,500 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $96,500, followed by $95,000.<\/p>\n<p>Major Resistance Levels \u2013 $98,000, and $98,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is recovering higher above the $96,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,800 level. Bitcoin started a fresh increase above the $96,000 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[33,43,35,44,45,46],"class_list":["post-2394","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts\/2394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/comments?post=2394"}],"version-history":[{"count":0,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/posts\/2394\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/media\/2395"}],"wp:attachment":[{"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/media?parent=2394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/categories?post=2394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscap.info\/blog\/wp-json\/wp\/v2\/tags?post=2394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}