Bitcoin's price has been on a steady upward trend, exceeding the $92,000 mark. Resistance is expected near $95,000, and if surpassed, Bitcoin could reach new levels such as $98,000 and $100,000. The current trading price is above $93,000 and well above the 100 hourly Simple moving average, suggesting strong upward momentum.
The price momentum is supported by a bullish trend line with support around $93,800. While a pullback below the $94,200 level occurred, Bitcoin is consolidating, preparing for potential new highs. The immediate resistance stands near $94,800, with a significant resistance level at $95,000.
If Bitcoin breaches these levels, further gains could test $98,000, possibly extending to $100,000 or even $102,000, marking an all-time high. On the downside, support levels at $93,700 and $92,800 are crucial, with major support at $91,500.
The hourly MACD indicates a bullish pace, and the RSI is above the 50 mark, showcasing strengthened bullish sentiments. Consequently, Bitcoin's price showcases resilience and potential for further upward trends given the technical analysis and current market situation.
