The price of Bitcoin has started to recover after a decline to as low as $90,944. It has since broken above the $95,500 level and the 50% Fibonacci retracement level. Additionally, a key bearish trend line was broken at $96,000. Bitcoin is currently trading above $98,000 and the 100 hourly Simple Moving Average. The next immediate resistance lies at the $102,000 level, followed by the $102,500 level. A close above the $103,200 resistance could lead to further gains towards $105,000 and $107,000. On the downside, there is support at $100,500, followed by $100,000 and $98,000. The technical indicators suggest a bullish trend with the MACD gaining pace in the bullish zone and the RSI above the 50 level.



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