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Cryptocurrency News Articles

Bitcoin Price Technical Analysis: BTC/USD Fails to Test $100,000, Correction May Extend

Dec 04, 2024 at 01:31 pm

Bitcoin price made another attempt to gain pace above the $95,000 resistance zone. However, BTC/USD failed to settle above $98,000 and failed to test $100,000.

Bitcoin Price Technical Analysis: BTC/USD Fails to Test $100,000, Correction May Extend

Bitcoin price attempted to gain pace above the $95,000 resistance zone. However, BTC/USD failed to settle above $98,000 and stalled before testing $100,000.

On the downside, immediate support is near the $92,650 level. A downside break below $90,800 might send Bitcoin toward the $88,000 support. Any more losses may open the doors for a slide toward the $85,000 support zone.

On the upside, the price could face resistance near the $96,500 level. The next key resistance is $97,200, above which a connecting bearish trend line is forming with resistance at $97,500.

The main hurdle is now near $98,000. A successful close above $98,000 may open the doors for another sustained rally. In the stated case, the price may perhaps rise toward the $100,000 milestone level.

Among altcoins, XRP, bulls pushed the price above the $2.50 and $2.70 levels before the bears took a stand near the $2.85 zone.

Original source:actionforex

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