{"id":1685,"date":"2024-12-09T05:11:06","date_gmt":"2024-12-09T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-at-crossroads-will-it-stabilize-and-surge-again\/"},"modified":"2024-12-09T05:11:06","modified_gmt":"2024-12-09T05:11:06","slug":"bitcoin-price-at-crossroads-will-it-stabilize-and-surge-again","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-at-crossroads-will-it-stabilize-and-surge-again\/","title":{"rendered":"Bitcoin Price At Crossroads: Will It Stabilize and Surge Again?"},"content":{"rendered":"<p><em>Bitcoin price recovered losses and climbed above $95,000. BTC is now consolidating and facing hurdles near the $101,250 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase after it dropped toward the $90,000 zone.<\/li>\n<li>The price is trading below $100,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support at $99,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could regain momentum if it closes above the $101,250 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Holds Key Support<\/h2>\n<p>Bitcoin price started another increase above the $95,500 resistance zone. BTC was able to clear the $96,500 and $98,000 resistance levels.<\/p>\n<p>The bulls were able to push the price above the 61.8% Fib retracement level of the downward wave from the $104,015 swing high to the $91,800 low. However, the bears seem to be active above the $101,000 level. They protected a close above the $102,000 level.<\/p>\n<p>The price struggled to settle above the 76.4% Fib retracement level of the downward wave from the $104,015 swing high to the $91,800 low.<\/p>\n<p>Bitcoin price is now trading below $100,500 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $99,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, the price could face resistance near the $100,000 level. The first key resistance is near the $101,250 level. A clear move above the $101,250 resistance might send the price higher. The next key resistance could be $102,000.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-659202\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/12\/Bitcoin_c5af76.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A close above the $102,000 resistance might send the price further higher. In the stated case, the price could rise and test the $104,200 resistance level. Any more gains might send the price toward the $108,000 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $101,250 resistance zone, it could start another downside correction. Immediate support on the downside is near the $99,000 level and the trend line.<\/p>\n<p>The first major support is near the $97,800 level. The next support is now near the $96,000 zone. 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 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 $99,000, followed by $97,800.<\/p>\n<p>Major Resistance Levels \u2013 $100,000, and $101,250.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price recovered losses and climbed above $95,000. BTC is now consolidating and facing hurdles near the $101,250 resistance zone. Bitcoin started a fresh increase after it dropped toward the $90,000 zone. The price is trading below $100,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1686,"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-1685","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\/1685","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=1685"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/1685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/1686"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=1685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=1685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=1685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}