Bitcoin price has pushed above the $100,000 mark, gaining over 5% and showing signs of a potential resurgence in the bull market. Trading above key levels like $98,800 and the 100 hourly SMA, Bitcoin broke critical resistances around $97,500, leading to its current position.
The digital currency is now consolidating its gains at around $101,900, facing potential resistance at $102,000. An upward move beyond this point could propel Bitcoin to $104,000 and possibly further to $108,000. However, failure to break $102,000 may trigger another correction.
Support levels are identified at $100,000 and $98,200. Key indicators such as the hourly MACD and RSI are showing positive signs with the RSI above 50, indicating bullish momentum.
