The article discusses the recent recovery in Bitcoin's price. Bitcoin has formed a base above the $94,500 level and has been able to surpass several resistance levels. The price is currently consolidating gains and is stable above the 23.6% Fib retracement level. Bitcoin is trading above the 100 hourly Simple Moving Average and there is a bullish trend line forming with support near $97,600. On the upside, immediate resistance is near $98,500, followed by $98,800 and $99,500. A close above the $99,500 resistance could send the price even higher, potentially testing the $100,000 level. However, if Bitcoin fails to rise above the $98,800 resistance, it could start a fresh decline. Immediate support is near $97,500, followed by $96,500. The next support levels are near $95,500 and $94,200. The article also mentions that the MACD is gaining pace in the bullish zone and the RSI is above 50, indicating positive momentum for Bitcoin.



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