Bitcoin Price Breakout Confirmed — Eyes on Next Key Level

Source Newsbtc

Bitcoin price is rising again above the $95,000 zone. BTC is gaining pace and might aim for a move above the $97,500 resistance zone.

  • Bitcoin remained supported above the $94,500 zone.
  • The price is trading above $95,000 and the 100 hourly Simple moving average.
  • There is a connecting bullish trend line forming with support at $96,350 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start another increase if it clears the $97,500 zone.

Bitcoin Price Regains Momentum

Bitcoin price formed a base above the $93,500 level. BTC started a fresh increase and was able to clear the $95,500 resistance zone to set the pace for a larger increase.

The bulls even pushed the price above the $96,500 resistance. A high was formed at $97,405 and the price is now consolidating gains. There was a minor decline below the $97,000 level and the price tested the 23.6% Fib retracement level of the upward move from the $92,970 swing low to the $97,405 high.

Bitcoin price is now trading above $95,000 and the 100 hourly Simple moving average. There is also a connecting bullish trend line forming with support at $96,350 on the hourly chart of the BTC/USD pair.

Bitcoin Price

On the upside, immediate resistance is near the $97,200 level. The first key resistance is near the $97,400 level. The next key resistance could be $97,500. A close above the $97,500 resistance might send the price further higher. In the stated case, the price could rise and test the $98,800 resistance level. Any more gains might send the price toward the $100,000 level.

Another Decline In BTC?

If Bitcoin fails to rise above the $97,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $96,500 level and the trend line. The first major support is near the $96,000 level.

The next support is now near the $95,200 zone and the 50% Fib retracement level of the upward move from the $92,970 swing low to the $97,405 high. Any more losses might send the price toward the $94,500 support in the near term. The main support sits at $94,200.

Technical indicators:

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

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

Major Support Levels – $96,500, followed by $95,500.

Major Resistance Levels – $97,500 and $98,000.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: XAU/USD drifts lower below $2,800   after Trump imposes tariffsGold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday.
Author  FXStreet
Feb 03, Mon
Gold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday.
placeholder
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Author  TradingKey
Apr 02, Wed
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
placeholder
Gold Price Forecast: XAU/USD attracts some sellers below $3,250 on firmer US DollarThe Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
Author  FXStreet
Yesterday 02: 14
The Gold price (XAU/USD) extends the decline to around $3,245 during the early Asian session on Thursday. The precious metal edges lower to near a two-week low amid easing US-China trade tensions and stronger US Dollar (USD) demand. 
placeholder
Ripple Price Forecast: XRP builds bullish momentum as Ripple eyes Circle with $5B acquisition bidRipple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
Author  FXStreet
Yesterday 09: 25
Ripple’s (XRP) price is consolidating at $2.21 at the time of writing on Thursday, reflecting sideways trading in the wider cryptocurrency market. There is a growing need for XRP to hold above the immediate $2.20 confluence support to validate the potential breakout targeting $3.00.
placeholder
Gold Price Forecast: XAU/USD loses momentum below $3,250, US NFP data in focusThe Gold price (XAU/USD) edges lower to a two-week low near $3,235 during the early Asian session on Friday. The easing of trade tensions between the US and its trading partners has dented the safe-haven demand, weighing on the precious metal. 
Author  FXStreet
12 hours ago
The Gold price (XAU/USD) edges lower to a two-week low near $3,235 during the early Asian session on Friday. The easing of trade tensions between the US and its trading partners has dented the safe-haven demand, weighing on the precious metal. 
goTop
quote