• bitcoinBitcoin (BTC) $ 97,931.00
  • ethereumEthereum (ETH) $ 2,721.61
  • tetherTether (USDT) $ 0.999995
  • xrpXRP (XRP) $ 2.47
  • bnbBNB (BNB) $ 700.26
  • solanaSolana (SOL) $ 197.19
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  • dogecoinDogecoin (DOGE) $ 0.264902
  • cardanoCardano (ADA) $ 0.796277
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  • tronTRON (TRX) $ 0.243987
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 97,690.00
  • chainlinkChainlink (LINK) $ 19.06
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  • avalanche-2Avalanche (AVAX) $ 26.55
  • wrapped-stethWrapped stETH (WSTETH) $ 3,215.29
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  • shiba-inuShiba Inu (SHIB) $ 0.000017
  • the-open-networkToncoin (TON) $ 3.78
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  • hyperliquidHyperliquid (HYPE) $ 25.15
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  • bitget-tokenBitget Token (BGB) $ 6.02
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  • mantra-daoMANTRA (OM) $ 5.82
  • wrapped-eethWrapped eETH (WEETH) $ 2,850.95
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  • nearNEAR Protocol (NEAR) $ 3.42
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  • daiDai (DAI) $ 0.999779
  • mantleMantle (MNT) $ 1.04
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  • susdssUSDS (SUSDS) $ 1.03
  • ethereum-classicEthereum Classic (ETC) $ 21.36
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  • crypto-com-chainCronos (CRO) $ 0.094869
  • algorandAlgorand (ALGO) $ 0.299786
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 97,879.00
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  • tokenize-xchangeTokenize Xchange (TKX) $ 28.00
  • cosmosCosmos Hub (ATOM) $ 5.03
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  • first-digital-usdFirst Digital USD (FDUSD) $ 1.00
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 97,777.00
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  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 97,564.00
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  • msolMarinade Staked SOL (MSOL) $ 248.66
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  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 2,784.95
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  • flowFlow (FLOW) $ 0.530840
  • neoNEO (NEO) $ 11.55
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 213.18
  • bitcoin-svBitcoin SV (BSV) $ 40.72
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 97,640.00
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  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.264184
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,836.57
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Bitcoin Price Faces Tough Resistance: A Breakout In The Cards?

Bitcoin Price Faces Tough Resistance: A Breakout In The Cards?

Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break.

  • Bitcoin started a decent upward move above the $100,000 zone.
  • The price is trading below $103,200 and the 100 hourly Simple moving average.
  • There is a key bearish trend line forming with resistance at $102,800 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another decline if it stays below the $103,000 zone.

Bitcoin Price Holds Support

Bitcoin price started a fresh decline below the $103,000 and $102,500 levels. BTC even dipped below the $100,000 level before the bulls appeared. A low was formed at $97,688 and the price is now correcting losses.

There was a move above the $99,800 and $100,500 levels. The bulls pushed the price above the 50% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low. However, the bears are active near the $103,000 zone.

There is also a key bearish trend line forming with resistance at $102,800 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $103,200 and the 100 hourly Simple moving average.

On the upside, immediate resistance is near the $102,500 level. The first key resistance is near the $103,000 level. The next key resistance could be $103,500 and the 61.8% Fib retracement level of the downward wave from the $107,080 swing high to the $97,688 low.

Bitcoin Price Faces Tough Resistance: A Breakout In The Cards?

A close above the $103,500 resistance might send the price further higher. In the stated case, the price could rise and test the $105,000 resistance level. Any more gains might send the price toward the $107,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $103,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $101,200 level. The first major support is near the $100,500 level.

The next support is now near the $100,000 zone. Any more losses might send the price toward the $88,800 support in the near term.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $101,200, followed by $100,500.

Major Resistance Levels – $102,500 and $103,000.

Source

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