【Bitcoin Price Approaches $100,000: Countdown Begins】
[#BTC☀ Price Hits New All-Time High]
The price of Bitcoin continues to hold above $92,000, supported by strong demand. BTC initiated a new rally above $95,000, breaking through $96,500 and reaching a new high of $98,999 before experiencing a pullback.
The price briefly dipped below $98,000 but remains solidly above the 23.6% Fibonacci retracement level from the low of $91,500 to the high of $98,990. Additionally, a key bullish trend line has formed on the BTC/USD hourly chart, with support around $95,200.
This trend line is close to the 50% Fibonacci retracement level between the low of $91,500 and the high of $98,990. Currently, the Bitcoin price is above $96,000 and has surpassed the 100-hour simple moving average.
From an upward trend perspective, the price may encounter resistance around $98,880. The first key resistance level is near $99,000. If Bitcoin breaks through this resistance level, it may continue to rise, with the next target being $100,000.
If the close breaks above the resistance level of $100,000, it could trigger further increases, targeting the resistance level of $102,000. If it continues to rise, the next target will be $104,500.
[#BTC☀ Will There Be a Downward Correction?]
If Bitcoin fails to break through the resistance zone at $100,000, it may begin a downward correction. The direct support level is near $98,000.
The first major support level is at $96,800, followed by the $95,500 area and the trend line. If the price continues to decline, it may touch the support level of $92,000 in the short term.
Technical Indicators:
-- Hourly #MACD指标 – Current MACD is accelerating in the bullish zone.
-- Hourly #RSI指标 (Relative Strength Index) – Current BTC/USD RSI is above the 50 level.
-- Major Support Level: $96,800, followed by $95,500.
-- Major Resistance Levels: $99,000 and $100,000.
