CandleFocus Bitcoin Price Pauses Under $100K: Bulls Eye the Milestone
2024-11-25
Author: Content Editor
Bitcoin is currently consolidating below the $100,000 resistance level. The price formed a base above $92,500 and started to increase, reaching a new high at $99,650 before a pullback. The price is now rising again and is trading below $98,000 and the 100 hourly moving average. There is a bearish trend line forming with resistance near $98,000. The first key resistance is at $99,000, and if the price clears that, it could test the $100,000 level. A close above $100,000 could lead to further gains towards $102,500 and $105,000. On the downside, immediate support is at $96,800, followed by $95,000. If the price fails to rise above the $98,000 resistance, it could start a downside correction with support at $95,750 and $95,000. The MACD is in the bullish zone and the RSI is above 50.
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