Bitcoin's price is stabilizing above the critical $96,200 support area, showing promising signals for an upward move past $99,000. Recently, Bitcoin recovered above $95,000, trading now above the $96,000 mark and the 100 hourly SMA. A resistance trend line exists at $98,000, making it pivotal for potential gains.
If Bitcoin doesn't cross this resistance, it risks declining. The downside support is around $96,500, with major support at $95,500 and $93,700. A rise above $100,000 could propel it towards the $101,200 level. Technical indicators show positive momentum, indicating a bullish trend in the short term.