Bitcoin Price Exceeds $100K—Bull Market Back?

Bitcoin price rose beyond $100,000 again. BTC is soaring and may target $105,000 barrier.

Bitcoin surged past $98,500 barrier.

The price is over $100,500 and the 100-hour SMA.

The hourly BTC/USD chart shows a new connecting bullish trend line with support at $102,000.

If it breaks $104,200, the pair may rise again.

Bitcoin Price Exceeds 8%

From $95,500, bitcoin price rose again. BTC cleared the $98,000 barrier zone after forming a base. Bullish traders drove prices over $100,000.

The pair touched $104,200 after rising beyond $103,500. Price is consolidating gains above the 23.6% Fib retracement line of the upward advance from the $95,824 swing low to the $104,082 high.

Bitcoin is over $100,500 and the 100-hour SMA. The hourly BTC/USD chart shows a new connecting bullish trend line with support at $102,000.

Near $103,500 is immediate upward resistance. First major resistance is at $104,500. The next hurdle may be $105,000. A closing above $105,000 barrier might boost prices. If the price rises, it may challenge $106,500 resistance. More increases might push the price beyond $108,000.

Does BTC Support Dips?

Bitcoin may fall again if it fails to break $103,500. Near $102,200 is immediate downside support. First key support is at $100,000, the 50% Fib retracement level of the upward advance from $95,824 swing low to $104,082 high.

Near $98,800 is the next support. More losses might push the price toward $97,500. The major support is $96,200.

The technical indications

The MACD is rising in the positive zone.

Relative Strength Index hourly BTC/USD RSI is over 50.

Major Support Levels: $102,200, $100,000.

Key Resistance Levels: $104,200, $105,000.

#BTCBackto100K+150K #BTCtraders #TradeStoriesDead #CryptoComeback🎉🎉🎉 $BTC