{"id":2130,"date":"2025-01-03T05:11:06","date_gmt":"2025-01-03T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-displays-power-could-this-be-the-start-of-a-surge\/"},"modified":"2025-01-03T05:11:06","modified_gmt":"2025-01-03T05:11:06","slug":"bitcoin-price-displays-power-could-this-be-the-start-of-a-surge","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-displays-power-could-this-be-the-start-of-a-surge\/","title":{"rendered":"Bitcoin Price Displays Power: Could This Be the Start of a Surge?"},"content":{"rendered":"<p><em>Bitcoin price is recovering losses above the $95,000 zone. BTC is gaining pace and might continue higher if it clears the $98,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh recovery above the $95,500 zone.<\/li>\n<li>The price is trading above $96,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bullish trend line forming with support at $95,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could start another increase if it stays above the $95,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Recovers Further<\/h2>\n<p>Bitcoin price started a decent upward move above the $93,200 resistance zone. BTC was able to climb above the $94,200 and $95,000 resistance levels.<\/p>\n<p>The price was able to clear many hurdles near the $96,500 level. It even spiked above $97,500. A high was formed at $97,719 and the price is now consolidating gains above the 23.6% Fib retracement level of the recent upward move from the $92,588 swing low to the $97,719 high.<\/p>\n<p>There is also a connecting bullish trend line forming with support at $95,000 on the hourly chart of the BTC\/USD pair. Bitcoin price is now trading above $95,500 and the 100 hourly Simple moving average. The trend line is near the 50% Fib retracement level of the recent upward move from the $92,588 swing low to the $97,719 high.<\/p>\n<p>On the upside, immediate resistance is near the $97,500 level. The first key resistance is near the $98,000 level. A clear move above the $98,000 resistance might send the price higher.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" class=\"size-full wp-image-670124\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Bitcoin_4bb780.png?resize=1024%2C449\" alt=\"Bitcoin Price\" width=\"1024\" height=\"449\" loading=\"lazy\" \/><\/p>\n<p>The next key resistance could be $98,800. A close above the $98,800 resistance might send the price further higher. In the stated case, the price could rise and test the $99,500 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 $98,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $96,500 level.<\/p>\n<p>The first major support is near the $95,000 level. The next support is now near the $94,550 zone. Any more losses might send the price toward the $93,200 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 $95,500.<\/p>\n<p>Major Resistance Levels \u2013 $97,500 and $98,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is recovering losses above the $95,000 zone. BTC is gaining pace and might continue higher if it clears the $98,000 resistance zone. Bitcoin started a fresh recovery above the $95,500 zone. The price is trading above $96,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2131,"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-2130","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\/2130","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=2130"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2130\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2131"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}