{"id":4671,"date":"2025-05-16T04:11:08","date_gmt":"2025-05-16T04:11:08","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-looks-upward-is-the-next-leg-higher-starting\/"},"modified":"2025-05-16T04:11:08","modified_gmt":"2025-05-16T04:11:08","slug":"bitcoin-price-looks-upward-is-the-next-leg-higher-starting","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-looks-upward-is-the-next-leg-higher-starting\/","title":{"rendered":"Bitcoin Price Looks Upward \u2014 Is the Next Leg Higher Starting?"},"content":{"rendered":"<p><em>Bitcoin price started a fresh increase and cleared the $103,500 zone. BTC is now consolidating and might aim to clear the $105,000 zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh upward move from the $101,500 zone.<\/li>\n<li>The price is trading above $103,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a connecting bearish trend line with resistance at $103,950 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 $105,000 resistance.<\/li>\n<\/ul>\n<h2>Bitcoin Price Aims Higher<\/h2>\n<p>Bitcoin price started a fresh increase from the $101,500 support zone. BTC formed a base and was able to clear the $102,500 resistance zone. The bulls even pushed the price above $103,200.<\/p>\n<p>There was a move above the 50% Fib retracement level of the downward move from the $104,980 swing high to the $101,441 low. Besides, there was a break above a connecting bearish trend line with resistance at $103,950 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>Bitcoin is now trading above $103,200 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $104,150 level or the 76.4% Fib retracement level of the downward move from the $104,980 swing high to the $101,441 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-752540\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/05\/Bitcoin_bb9040.png?resize=1024%2C479\" alt=\"Bitcoin Price\" width=\"1024\" height=\"479\" \/><\/p>\n<p>The first key resistance is near the $105,000 level. The next key resistance could be $105,500. A close above the $105,500 resistance might send the price further higher. In the stated case, the price could rise and test the $106,500 resistance level. Any more gains might send the price toward the $108,000 level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $104,200 resistance zone, it could start another correction in the short term. Immediate support on the downside is near the $103,200 level and the 100 hourly Simple moving average. The first major support is near the $102,500 level.<\/p>\n<p>The next support is now near the $101,500 zone. Any more losses might send the price toward the $100,000 support in the near term. The main support sits at $98,800, below which BTC might gain bearish momentum.<\/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 $102,500, followed by $101,500.<\/p>\n<p>Major Resistance Levels \u2013 $104,200 and $105,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a fresh increase and cleared the $103,500 zone. BTC is now consolidating and might aim to clear the $105,000 zone. Bitcoin started a fresh upward move from the $101,500 zone. The price is trading above $103,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend&hellip;<\/p>\n","protected":false},"author":1,"featured_media":4672,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-4671","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\/4671","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=4671"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/4671\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/4672"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=4671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=4671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=4671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}