Bitcoin is on a recovery trajectory, striving to break resistance around the $97,500 mark. If it breaches $98,800, it could aim for $100,000. The price trades above $95,500 and aligns with a bullish trend. Immediate resistance is near $97,450, while major support levels include $96,000 and $94,500.
Bitcoin's upward move shows consolidation above the 23.6% Fib level from $89,115 to $97,431. A breakout above $98,800 could lead to further gains, testing resistance at $102,500. Alternatively, failing to rise above key levels may trigger a decline towards $92,000 support.
The Hourly MACD indicates bullish momentum, and the RSI remains above 50. The BTC/USD pair maintains support at $96,000, suggesting potential for another rally if maintained.
