{"id":658164,"date":"2024-12-06T02:36:10","date_gmt":"2024-12-06T02:36:10","guid":{"rendered":"https:\/\/uniquehot.com\/?p=658164"},"modified":"2024-12-06T02:36:10","modified_gmt":"2024-12-06T02:36:10","slug":"bitcoin-price-roars-back-100k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-roars-back-100k\/","title":{"rendered":"Bitcoin Price Roars Back: Recovery After Sharp Correction"},"content":{"rendered":"<p><em>Bitcoin price declined sharply from the $104,015 high and dipped below $95,000. BTC is now recovering losses and facing hurdles near $99,000.<\/em><\/p>\n<ul>\n<li>Bitcoin started a major decline after hitting a new all-time high at $104,015.<\/li>\n<li>The price is trading above $97,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support at $96,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could regain momentum if it closes above the key milestone level of $100,000.<\/li>\n<\/ul>\n<h2>Bitcoin Price Recovers Losses<\/h2>\n<p>Bitcoin price started <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-soars-to-100k\/\" target=\"_blank\" rel=\"noopener \">another increase<\/a> above the $98,500 resistance zone. BTC was able to clear the $99,500 and $100,000 resistance levels. The bulls even pumped it to a new all-time high.<\/p>\n<p>A high was formed at $104,015 and the price saw a major downside correction. There was a drop below the $100,000 and $95,000 levels. The price tested the $92,000 zone. A low was formed at $91,800 and the price is now recovering losses.<\/p>\n<p>There was a move above the 50% Fib retracement level of the downward move from the $104,015 swing high to the $91,800 low. Bitcoin price is now trading above $97,500 and the <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-95k-plateau\/\" target=\"_blank\" rel=\"noopener \">100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support at $96,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>On the upside, the price could face resistance near the $99,360 level or the 61.8% Fib retracement level of the downward move from the $104,015 swing high to the $91,800 low. The first key resistance is near the $100,000 level. A clear move above the $100,000 resistance might send the price higher.<\/p>\n<figure id=\"attachment_658165\" aria-describedby=\"caption-attachment-658165\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-658165\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?resize=1024%2C478\" alt=\"Bitcoin Price \" width=\"1024\" height=\"478\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=104 104w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=83 83w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/12\/Bitcoin_03d811.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-658165\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">BTCUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The next key resistance could be $102,000. A close above the $102,000 resistance might send the price further higher. In the stated case, the price could rise and test the $104,000 resistance level. Any more gains might send the price toward the $108,000 level.<\/p>\n<h2>Another Drop In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $100,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $97,000 level.<\/p>\n<p>The first major support is near the $96,000 level. The next support is now near the $95,000 zone. Any more losses might send the price toward the $92,000 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $97,000, followed by $96,000.<\/p>\n<p>Major Resistance Levels \u2013 $100,000, and $102,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price declined sharply from the $104,015 high and dipped below $95,000. BTC is now recovering losses and facing hurdles near $99,000. Bitcoin started a major decline after hitting a new all-time high at $104,015. The price is trading above $97,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support at $96,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken). The pair could regain momentum if it closes above the key milestone level of $100,000. Bitcoin Price Recovers Losses Bitcoin price started another increase above the $98,500 resistance zone. BTC was able to clear the $99,500 and $100,000 resistance levels. The bulls even pumped it to a new all-time high. A high was formed at $104,015 and the price saw a major downside correction. There was a drop below the $100,000 and $95,000 levels. The price tested the $92,000 zone. A low was formed at $91,800 and the price is now recovering losses. There was a move above the 50% Fib retracement level of the downward move from the $104,015 swing high to the $91,800 low. Bitcoin price is now trading above $97,500 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $96,000 on the hourly chart of the BTC\/USD pair. On the upside, the price could face resistance near the $99,360 level or the 61.8% Fib retracement level of the downward move from the $104,015 swing high to the $91,800 low. The first key resistance is near the $100,000 level. A clear move above the $100,000 resistance might send the price higher. The next key resistance could be $102,000. A close above the $102,000 resistance might send the price further higher. In the stated case, the price could rise and test the $104,000 resistance level. Any more gains might send the price toward the $108,000 level. Another Drop In BTC? If Bitcoin fails to rise above the $100,000 resistance zone, it could start another downside correction. Immediate support on the downside is near the $97,000 level. The first major support is near the $96,000 level. The next support is now near the $95,000 zone. Any more losses might send the price toward the $92,000 support in the near term. Technical indicators: Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level. Major Support Levels \u2013 $97,000, followed by $96,000. Major Resistance Levels \u2013 $100,000, and $102,000.<\/p>\n","protected":false},"author":67,"featured_media":658166,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83361],"tags":[428,679,1144,78790,76835],"class_list":["post-658164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\n<title>Bitcoin Price Roars Back: Recovery After Sharp Correction<\/title>\n<meta name=\"description\" content=\"Bitcoin price declined sharply from the $104,015 high and dipped below $95,000. 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