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Bitcoin Price Approaches $100K: The Countdown Is On

24 November 2024
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Bitcoin worth is rising steadily above the $95,000 zone. BTC is displaying optimistic indicators and would possibly quickly hit the $100,000 milestone stage.

Bitcoin began a recent improve above the $95,000 zone.
The worth is buying and selling above $95,000 and the 100 hourly Easy transferring common.
There’s a key bullish pattern line forming with assist at $95,200 on the hourly chart of the BTC/USD pair (information feed from Kraken).
The pair might proceed to rise if it clears the $100,000 resistance zone.

Bitcoin Worth Units One other ATH

Bitcoin worth remained supported above the $92,000 stage. BTC fashioned a base and began a recent improve above the $95,000 stage. It cleared the $96,500 stage and traded to a brand new excessive at $98,999 earlier than there was a pullback.

There was a transfer under the $98,000 stage. Nevertheless, the worth remained steady above the 23.6% Fib retracement stage of the upward transfer from the $91,500 swing low to the $98,990 excessive. There’s additionally a key bullish pattern line forming with assist at $95,200 on the hourly chart of the BTC/USD pair.

The pattern line is near the 50% Fib retracement stage of the upward transfer from the $91,500 swing low to the $98,990 excessive. Bitcoin worth is now buying and selling above $96,000 and the 100 hourly Easy transferring common.

On the upside, the worth might face resistance close to the $98,880 stage. The primary key resistance is close to the $99,000 stage. A transparent transfer above the $99,000 resistance would possibly ship the worth increased. The subsequent key resistance could possibly be $100,000.

Supply: BTCUSD on TradingView.com

An in depth above the $100,000 resistance would possibly provoke extra beneficial properties. Within the acknowledged case, the worth might rise and check the $102,000 resistance stage. Any extra beneficial properties would possibly ship the worth towards the $104,500 resistance stage.

Draw back Correction In BTC?

If Bitcoin fails to rise above the $100,000 resistance zone, it might begin a draw back correction. Speedy assist on the draw back is close to the $98,000 stage.

The primary main assist is close to the $96,800 stage. The subsequent assist is now close to the $95,500 zone and the pattern line. Any extra losses would possibly ship the worth towards the $92,000 assist within the close to time period.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 stage.

Main Assist Ranges – $96,800, adopted by $95,500.

Main Resistance Ranges – $99,000, and $100,000.



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Tags: 100KApproachesBitcoinCountdownPrice
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