The Bitcoin price has been recovering its losses and is now trading above the $95,000 zone. It has cleared several resistance levels and is consolidating its gains above the 23.6% Fibonacci retracement level. There is a bullish trend line forming with support at $95,000, and the price is trading above the 100 hourly simple moving average. The immediate resistance is near $97,500, and if Bitcoin clears the $98,000 level, it could continue to rise towards the $100,000 level. However, if it fails to break above the resistance zone, it might start a fresh decline with immediate support at $96,500. The technical indicators suggest a bullish trend with the MACD gaining momentum in the bullish zone and the RSI above the 50 level.



Other News from Today