Bitcoin Price Signals Strength: Bulls Prepare for the Next Leg Up

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	2,071,664,498,098	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

2,071,664,498,098

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	5,003.12	5.00%	105,013.13	105,013.13	105,013.14

Price Change

Price Change %

Current Price

Bid Price

Offer

5,003.12

5.00%

105,013.13

105,013.14

High Price	Low Price	Open Price	Prev. Close	52 Week Range
105,084.06	99,937.81	99,966.53	100,010.01	38,501.00 - 108,388.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

105,084.06

99,937.81

99,966.53

100,010.01

38,501.00 - 108,388.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:55:27	0.000076	105,013.13	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:55:27

0.000076

105,013.13

USD

Price x Volume	Volume	Base Symbol	Related Pairs
1,517,272,468.07	14,752.35	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

1,517,272,468.07

14,752.35

Bitcoin Price Signals Strength: Bulls Prepare for the Next Leg Up

17/01/2025 2:47am

NEWSBTC

Bitcoin price is gaining pace above the $100,000 zone. BTC is rising and might accelerate higher if it clears the $102,000 zone. Bitcoin started a decent increase above the $100,000 zone. The price is trading above $100,500 and the 100 hourly Simple moving average. There was a break above a short-term declining channel with resistance at $99,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $100,000 support zone. Bitcoin Price Reclaims $100K Bitcoin price started a decent upward move above the $98,000 zone. BTC was able to climb above the $98,500 and $98,800 levels. The bulls were able to push the price above the key barrier at $10,000. The price even cleared $101,500. Besides, there was a break above a short-term declining channel with resistance at $99,400 on the hourly chart of the BTC/USD pair. A high was formed at $102,000 and the price is now consolidating gains and is well above the 23.6% Fib retracement level of the upward move from the $89,115 swing low to the $102,000 high. Bitcoin price is now trading above $100,800 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $102,000 level. The first key resistance is near the $102,500 level. A clear move above the $102,500 resistance might send the price higher. The next key resistance could be $104,000. A close above the $104,000 resistance might send the price further higher. In the stated case, the price could rise and test the $106,000 resistance level. Any more gains might send the price toward the $108,500 level. Downside Correction In BTC? If Bitcoin fails to rise above the $102,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $100,500 level. The first major support is near the $100,000 level. The next support is now near the $95,500 zone or the 50% Fib retracement level of the upward move from the $89,115 swing low to the $102,000 high. Any more losses might send the price toward the $93,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $100,500, followed by $100,000. Major Resistance Levels – $102,000 and $102,500.

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