{"id":1600,"date":"2024-12-04T05:11:07","date_gmt":"2024-12-04T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-95k-plateau-whats-next-for-crypto\/"},"modified":"2024-12-04T05:11:07","modified_gmt":"2024-12-04T05:11:07","slug":"bitcoin-price-95k-plateau-whats-next-for-crypto","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-95k-plateau-whats-next-for-crypto\/","title":{"rendered":"Bitcoin Price $95K Plateau: What\u2019s Next for Crypto?"},"content":{"rendered":"<p><em>Bitcoin prices consolidate near the $95,000 level. BTC must clear the $96,500 resistance zone to attempt a fresh increase in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin is holding gains above the $93,500 zone.<\/li>\n<li>The price is trading below $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 $96,000 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 $96,500 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Faces Resistance<\/h2>\n<p>Bitcoin price attempted to clear the $96,500 resistance zone. However, the bears remained in action and BTC corrected lower. There was a move below the $94,500 support zone.<\/p>\n<p>The price even spiked below $94,000. A low was formed at $93,565 and the price is now attempting a fresh increase. There was a decent move above the $95,000 level. The price climbed above the 50% Fib retracement level of the downward move from the $97,395 swing high to the $93,565 low.<\/p>\n<p>There was a break above a short-term bearish trend line with resistance at $96,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average.<\/p>\n<p>On the upside, the price could face resistance near the $96,500 level. It is close to the 76.4% Fib retracement level of the downward move from the $97,395 swing high to the $93,565 low. The first key resistance is near the $96,800 level. A clear move above the $96,800 resistance might send the price higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-656645\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin_783770.png?resize=1024%2C478\" alt=\"Bitcoin Price \" width=\"1024\" height=\"478\" \/><\/p>\n<p>The next key resistance could be $98,000. A close above the $98,000 resistance might send the price further higher. In the stated case, the price could rise and test the $99,000 resistance level. Any more gains might send the price toward the $100,000 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $96,500 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 $95,000 level. The next support is now near the $93,500 zone. Any more losses might send the price toward the $92,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now below the 50 level.<\/p>\n<p>Major Support Levels \u2013 $95,500, followed by $93,500.<\/p>\n<p>Major Resistance Levels \u2013 $96,500, and $98,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin prices consolidate near the $95,000 level. BTC must clear the $96,500 resistance zone to attempt a fresh increase in the near term. Bitcoin is holding gains above the $93,500 zone. The price is trading below $96,500 and the 100 hourly Simple moving average. There was a break above a short-term bearish trend line with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1601,"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-1600","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\/1600","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=1600"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1600\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1601"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}