{"id":1617,"date":"2024-12-05T05:11:07","date_gmt":"2024-12-05T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-soars-to-100k-a-new-era-in-crypto-begins\/"},"modified":"2024-12-05T05:11:07","modified_gmt":"2024-12-05T05:11:07","slug":"bitcoin-price-soars-to-100k-a-new-era-in-crypto-begins","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-soars-to-100k-a-new-era-in-crypto-begins\/","title":{"rendered":"Bitcoin Price Soars to $100K: A New Era in Crypto Begins"},"content":{"rendered":"<p><em>Bitcoin price started a fresh increase and tested the $100,000 level. BTC is now showing many positive signs and might continue to rise.<\/em><\/p>\n<ul>\n<li>Bitcoin is gaining pace above the $96,500 zone.<\/li>\n<li>The price is trading below $98,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance at $97,550 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair tested the key milestone level at $100,000 and might extend gains.<\/li>\n<\/ul>\n<h2>Bitcoin Price Hits $100K<\/h2>\n<p>Bitcoin price started another increase above the $96,500 resistance zone. BTC was able to clear the $97,500 and $98,000 resistance levels. The bulls even pumped it to a new all-time high.<\/p>\n<p>There was a break above a key bearish trend line with resistance at $97,550 on the hourly chart of the BTC\/USD pair. Finally, the price tested the $100,000 level. The current price action suggests that the price might continue to rise and is stable above the 23.6% Fib retracement level of the upward move from the $64,656 swing low to the $100,000 high.<\/p>\n<p>Bitcoin price is now trading below $98,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $100,000 level. The first key resistance is near the $102,000 level. A clear move above the $102,000 resistance might send the price higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-657623\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin_0acf20.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The next key resistance could be $105,000. A close above the $105,000 resistance might send the price further higher. In the stated case, the price could rise and test the $108,000 resistance level. Any more gains might send the price toward the $112,000 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $100,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $98,800 level.<\/p>\n<p>The first major support is near the $98,000 level. The next support is now near the $96,500 zone or the 61.8% Fib retracement level of the upward move from the $64,656 swing low to the $100,000 high. Any more losses might send the price toward the $95,000 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 $98,500, followed by $96,500.<\/p>\n<p>Major Resistance Levels \u2013 $100,000, and $102,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh increase and tested the $100,000 level. BTC is now showing many positive signs and might continue to rise. Bitcoin is gaining pace above the $96,500 zone. The price is trading below $98,500 and the 100 hourly Simple moving average. There was a break above a key bearish trend line with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1618,"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-1617","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\/1617","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=1617"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1617\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1618"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1617"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1617"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1617"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}