{"id":2581,"date":"2025-01-27T05:11:06","date_gmt":"2025-01-27T05:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-dips-but-nears-100k-a-pullback-or-a-launchpad\/"},"modified":"2025-01-27T05:11:06","modified_gmt":"2025-01-27T05:11:06","slug":"bitcoin-price-dips-but-nears-100k-a-pullback-or-a-launchpad","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-dips-but-nears-100k-a-pullback-or-a-launchpad\/","title":{"rendered":"Bitcoin Price Dips But Nears $100K: A Pullback or a Launchpad?"},"content":{"rendered":"<p><em>Bitcoin price struggled near $107,000 and corrected gains. BTC is now approaching $100,000 and might find bids in the near term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a downside correction from the $107,000 zone.<\/li>\n<li>The price is trading below $103,500 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break below a connecting bullish trend line with support at $104,800 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 $100,000 support zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Dips Again<\/h2>\n<p>Bitcoin price started a decent upward move above the $105,500 zone. BTC was able to climb above the $106,000 and $106,500 levels.<\/p>\n<p>The bulls even pushed the price above the $107,000 level. However, the bears were active above the $107,000 zone. A high was formed at $107,080 and the price is now correcting gains. There was a move below the $105,000 level.<\/p>\n<p>Besides, there was a break below a connecting bullish trend line with support at $104,800 on the hourly chart of the BTC\/USD pair. The pair tested the $100,700 zone. A low is formed at $100,700 and the pair is now consolidating losses.<\/p>\n<p>Bitcoin price is now trading below $103,500 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $102,200 level or the 23.6% Fib retracement level of the downward move from the $107,080 swing high to the $100,700 low.<\/p>\n<p>The first key resistance is near the $104,000 level. It is close to the 50% Fib retracement level of the downward move from the $107,080 swing high to the $100,700 low. A clear move above the $104,000 resistance might send the price higher. The next key resistance could be $105,000.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-683494\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Bitcoin_7418fe.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A close above the $105,000 resistance might send the price further higher. In the stated case, the price could rise and test the $106,200 resistance level. Any more gains might send the price toward the $107,000 level.<\/p>\n<h2>More Losses In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $102,200 resistance zone, it could start a downside correction. Immediate support on the downside is near the $100,500 level. The first major support is near the $100,000 level.<\/p>\n<p>The next support is now near the $88,500 zone. Any more losses might send the price toward the $86,500 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bearish 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 $100,500, followed by $100,000.<\/p>\n<p>Major Resistance Levels \u2013 $102,200 and $104,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price struggled near $107,000 and corrected gains. BTC is now approaching $100,000 and might find bids in the near term. Bitcoin started a downside correction from the $107,000 zone. The price is trading below $103,500 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2582,"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-2581","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\/2581","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=2581"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/2581\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/2582"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=2581"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=2581"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=2581"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}