{"id":1502,"date":"2024-11-29T05:11:06","date_gmt":"2024-11-29T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-poised-for-another-rise-the-next-move-awaits\/"},"modified":"2024-11-29T05:11:06","modified_gmt":"2024-11-29T05:11:06","slug":"bitcoin-price-poised-for-another-rise-the-next-move-awaits","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-poised-for-another-rise-the-next-move-awaits\/","title":{"rendered":"Bitcoin Price Poised for Another Rise: The Next Move Awaits"},"content":{"rendered":"<p><em>Bitcoin price is recovering higher above the $95,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,000 level.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $95,000 zone.<\/li>\n<li>The price is trading above $95,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a short-term contracting triangle with resistance at $95,500 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 $97,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes More Upsides<\/h2>\n<p>Bitcoin price remained stable above the $93,500 zone. BTC formed a base and started a fresh increase above the $94,500 resistance zone. The bulls were able to push the price above the $95,500 resistance zone.<\/p>\n<p>There was a break above a short-term contracting triangle with resistance at $95,500 on the hourly chart of the BTC\/USD pair. The pair climbed above the 61.8% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low.<\/p>\n<p>Bitcoin price is now trading above $95,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $97,000 level. It is near the 76.4% Fib retracement level of the downward wave from the $98,880 swing high to the $90,735 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-655521 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Bitcoin_c876af.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The first key resistance is near the $98,500 level. A clear move above the $98,500 resistance might send the price higher. The next key resistance could be $98,800. A close above the $98,800 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.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $97,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,500 level.<\/p>\n<p>The first major support is near the $94,500 level. The next support is now near the $93,200 zone. Any more losses might send the price toward the $91,500 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 $95,500, followed by $94,500.<\/p>\n<p>Major Resistance Levels \u2013 $97,000, and $98,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is recovering higher above the $95,000 level. BTC is showing positive signs and aims for a fresh increase above the $98,000 level. Bitcoin started a fresh increase above the $95,000 zone. The price is trading above $95,500 and the 100 hourly Simple moving average. There was a break above a short-term contracting triangle&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-1502","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:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=1502"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1503"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}