Bitcoin's price has recovered and is trading above the $95,000 level, with positive indicators signaling a potential increase above $98,000. The cryptocurrency formed a base and broke above resistance levels, including a short-term contracting triangle. It climbed above the 61.8% Fibonacci retracement level and is now trading above the 100 hourly Simple Moving Average. The key resistance levels to watch are $97,000, $98,500, and $98,800. If Bitcoin fails to rise above $97,000, it could see another downward correction with immediate support at $95,500. Further support levels are near $94,500 and $93,200. The MACD and RSI indicators are both showing bullish signs.



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