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The post<a href="https://cryptosnewss.com/analyst-predicts-dogecoin-could-reach-new-all-time-high/" rel="noopener noreferrer nofollow"> </a><a href="https://cryptosnewss.com/bitcoins-path-to-100k-what-does-the-95k-level-mean/" rel="noopener noreferrer nofollow">Bitcoin’s Path to $100K: What Does the $95K Level Mean?</a> appeared first on<a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow"> Cryptos Newss</a>.<a href="https://cryptosnewss.com/category/bitcoin-news/" rel="noopener noreferrer nofollow">Bitcoin</a> prices consolidate near the $95,000 level. BTC must clear the $96,500 resistance zone to attempt a fresh increase in the near term.<ul><li>Bitcoin is holding gains above the $93,500 zone.</li><li>The price is trading below $96,500 and the 100 hourly Simple moving average.</li><li>There was a break above a short-term bearish trend line with resistance at $96,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).</li><li>The pair could gain bullish momentum if it clears the $96,500 resistance zone.</li></ul><h2 id="header-0">Bitcoin Price Faces Resistance</h2>Bitcoin price attempted to clear the $96,500 resistance zone. However, the bears remained in action and BTC corrected lower. There was a move below the $94,500 support zone.The <a href="https://cryptosnewss.com/bitcoin-hits-100k-radar-whats-next-for-crypto-investors/" rel="noopener noreferrer nofollow">price</a> even spiked below $94,000. A low was formed at $93,565 and the price is now attempting a fresh increase. There was a decent move above the $95,000 level. The price climbed above the 50% Fib retracement level of the downward move from the $97,395 swing high to the $93,565 low.There was a break above a short-term bearish trend line with resistance at $96,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below $96,500 and the 100 hourly Simple moving average.On the upside, the price could face resistance near the $96,500 level. It is close to the 76.4% Fib retracement level of the downward move from the $97,395 swing high to the $93,565 low. The first key resistance is near the $96,800 level. A clear move above the $96,800 resistance might send the price higher.The next key resistance could be $98,000. A close above the $98,000 resistance might send the price further higher. In the stated case, the price could rise and test the $99,000 resistance level. Any more gains might send the price toward the $100,000 level.<h2 id="header-1">Another Drop In BTC?</h2>If Bitcoin fails to rise above the $96,500 resistance zone, it could start another downside correction. Immediate support on the downside is near the $95,500 level.The first major support is near the $95,000 level. The next support is now near the $93,500 zone. Any more losses might send the price toward the $92,000 support in the near term.Technical indicators:Hourly MACD – The MACD is now losing pace in the bullish zone.Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.Major Support Levels – $95,500, followed by $93,500.Major Resistance Levels – $96,500, and $98,000.The post<a href="https://cryptosnewss.com/bitcoins-path-to-100k-what-does-the-95k-level-mean/" rel="noopener noreferrer nofollow"> Bitcoin’s Path to $100K: What Does the $95K Level Mean?</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.

Bitcoin’s Path to $100K: What Does the $95K Level Mean?

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