Bitcoin Makes a Strong Comeback, Targeting the $98,000 Mark: Is a New Surge About to Begin?

Recently, Bitcoin's price has shown strong signs of recovery, successfully reclaiming the key area of $95,000 and currently launching an attack towards the resistance at $98,000. Should it break through, the market may welcome a new wave of upward momentum!

Path to Recovery: Breaking Through Multiple Resistances

After hitting a low of $92,588, Bitcoin has risen steadily, consecutively breaking the resistances at $94,200, $95,000, and even $96,500, currently maintaining a stable position above the 100-hour moving average. On the hourly chart, the support level at $95,000 has formed a bullish trend line, providing solid support for the price.

Bitcoin is currently just a step away from the key resistance at $98,000. If it can break through in one go, it may not only challenge the $98,800 mark but also test the psychological levels of $99,500 and even $100,000.

Short-term Risks: Defense of Support Levels

If the resistance at $98,000 is breached, Bitcoin may experience a brief pullback. The key support levels below are concentrated at $96,500 and $95,000; if these are broken, it may trigger a deeper pullback to $94,550 or even $93,200.

Technical Indicators: The Winds Have Shifted Toward Bullish

Hourly MACD: Accelerating into bullish territory, with strong momentum. Hourly RSI: Above 50, with buying pressure prevailing.

Bitcoin's price movement is at a critical crossroads: will it break new highs or experience a temporary pullback? The market has already given hints; the next move will determine if the bears stop or the bulls accelerate. Follow Jiang Ge for insights into the depths of the market; don't miss the next big trend!

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