Bitcoin price is consolidating above the $95,000 support zone, but it's facing challenges as it remains below the $98,000 mark and the 100 hourly Simple moving average. The cryptocurrency encountered a fresh decline below the $98,000 level.
A connecting bearish trend line is forming with resistance at $98,200 on the hourly chart of the BTC/USD pair. Bitcoin price failed to sustain momentum above the $100,500 zone, triggering another drop below the $98,500 and $98,000 levels.
Immediate upside resistance lies at $96,750, with the first key resistance at $98,000. A close above the $100,000 level could revive bullish prospects, pushing the price toward $101,200 and beyond. Conversely, if Bitcoin fails to rise above $98,000, it risks falling further with major support at $95,500 and potentially down to $91,000.
Source: www.newsbtc.com ↗