The price of Bitcoin is attempting to recover and rise above the $98,000 zone, but is struggling to settle above $100,000. In its recovery wave, Bitcoin has climbed above the $96,500 and $97,200 levels, and the bulls have pushed the price above the key barrier at $98,000. The price is now consolidating gains and is above the 23.6% Fib retracement level. There is a connecting bullish trend line forming with support at $98,000. Bitcoin is also trading above $98,800 and the 100 hourly Simple Moving Average. On the upside, the immediate resistance is near the $100,000 level, with the first key resistance at $100,500. A move above this resistance could send the price higher, with the next key resistance at $104,000. However, if Bitcoin fails to rise above the $100,000 resistance zone, it could start a fresh decline. The immediate support on the downside is near $98,000 and the trend line, with the first major support at $97,350.



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