Convergence

bullish

Bitcoin

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Divergence

<p>With the U.S. CPI data meeting expectations, the crypto market has experienced a strong bullish recovery. This further led to the BTC price bouncing back above the $100,000 level.</p>  
<p>Considering the present market sentiments, will BTC price stay above the $100k mark? Or will the price witness a pullback toward its important support level of $98,000?</p>  
<h2 class="wp-block-heading" id="h-btc-price-stays-above-the-100k-mark">BTC Price Stays Above the $100k Mark!</h2>  
<p>The Bitcoin price has added over 3% to its valuation in 24 hours with a trading volume of $81.601 billion, a change of -17.32%. This has resulted in it reclaiming the $100,000 mark during the early Asian trading hours.</p>  
<figure class="wp-block-image size-large"><img src="https://image.coinpedia.org/wp-content/uploads/2024/12/12123808/Bitcoin-Price-Analysis-12th-December-2024-1024x540.webp" alt="Bitcoin Price Stays Above the $100k Mark!" class="wp-image-392101">
 <figcaption class="wp-element-caption">
  TradingView: BTC/USDT
 </figcaption>
</figure>  
<p>The Relative Strength Index (RSI) displays a sharp rise toward the overbought range in the daily time frame. However, the average trendline acts as a resistance, highlighting mixed price action.</p>  
<p>Further, the Moving Average Convergence Divergence (MACD) shows a constant red histogram in the Bitcoin price chart. Moreover, the averages record a downward trend, suggesting a negative outlook.</p>  
<h2 class="wp-block-heading" id="h-will-btc-price-hit-a-new-high-today">Will BTC Price Hit A New High Today?</h2>  
<p>If the bullish price action sustains, the Bitcoin price will retest its ATH of $103,900.47. Maintaining the price above that level could set the stage for this cryptocurrency to achieve a new high.</p>  
<p>Contrarily, a bearish sentiment could pull the BTC price below the $100k mark. Further, if the bears gain power, it could test its low of $98,000 during the upcoming hours.</p>  
<p>Will BTC Price hit the $200,000 mark this crypto bull run? Read our <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin Price Prediction</a>. Also, subscribe to CoinPedia to stay updated about the latest happenings in the crypto-verse!</p>  
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>  
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1733987135709"><strong class="schema-faq-question"><strong>Why Crypto market is up today?</strong></strong>
  <p class="schema-faq-answer">With the price of Bitcoin reclaiming the $100k mark, the cryptocurrency has added over $180 billion.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1733987136751"><strong class="schema-faq-question"><strong>How high is Bitcoin going today?</strong></strong>
  <p class="schema-faq-answer">Amid increased price volatility, the BTC price could achieve a new all-time high soon.</p>
 </div>
 <div class="schema-faq-section" id="faq-question-1733987137326"><strong class="schema-faq-question"><strong>Is BTC buy or sell?</strong></strong>
  <p class="schema-faq-answer">The fear &amp; greed index is currently at 80 and is extremely greedy. This makes Bitcoin a potential buy.</p>
 </div>
</div>

Bitcoin Price Prediction Today (12th Dec 2024)!

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