CandleFocus Bitcoin Price Reclaims $100K: Is the Bull Run Back On?
2024-12-12
Author: Content Editor
The price of Bitcoin has been steadily increasing and is now trading above the $100,000 resistance zone. It formed a base and saw a breakout above key resistance levels, including a bearish trend line. The price reached a high of $101,900 and is currently consolidating gains. However, it is slowly moving lower but is still above the 23.6% Fib retracement level. On the upside, the price could face resistance near $101,400 and $102,000, with a clear move above the latter potentially sending the price higher. The next key resistance levels are $104,000 and $105,000. If the price fails to rise above $102,000, it could see a downside correction, with immediate support near $100,000. The technical indicators, such as the MACD and RSI, suggest a bullish trend for Bitcoin. The major support levels are $100,200 and $98,200, while the major resistance levels are $102,000 and $104,000.
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