{"id":1322,"date":"2024-11-18T06:00:22","date_gmt":"2024-11-18T06:00:22","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-bulls-arent-backing-down-rally-continues\/"},"modified":"2024-11-18T06:00:22","modified_gmt":"2024-11-18T06:00:22","slug":"bitcoin-bulls-arent-backing-down-rally-continues","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-bulls-arent-backing-down-rally-continues\/","title":{"rendered":"Bitcoin Bulls Aren\u2019t Backing Down: Rally Continues?"},"content":{"rendered":"<p><em>Bitcoin price saw a short-term correction below the $90,000 zone. BTC is now again rising and the bulls could now aim for a move above $94,000.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase from the $86,600 zone.<\/li>\n<li>The price is trading above $88,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance at $91,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair could gain bullish momentum if it clears the $91,000 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Aims Higher<\/h2>\n<p>Bitcoin price started a short-term downside correction below the $90,000 level. BTC traded below the $88,000 level before the bulls appeared.<\/p>\n<p>A low was formed at $86,622 and the price is now recovering higher. There was a move above the $90,000 level. A high was formed at $91,839 and the price is now consolidating. It tested the 50% Fib retracement level of the upward move from the $86,621 swing low to the $91,839 high.<\/p>\n<p>Bitcoin price is now trading above $88,000 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $91,000 level. There is also a connecting bearish trend line forming with resistance at $91,000 on the hourly chart of the BTC\/USD pair.<\/p>\n<p>The first key resistance is near the $91,850 level. A clear move above the $91,850 resistance might send the price higher. The next key resistance could be $92,500.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-653596 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Bitcoin_7abcef.png?resize=1024%2C478\" alt=\"Bitcoin\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A close above the $92,500 resistance might initiate more gains. In the stated case, the price could rise and test the $93,450 resistance level. Any more gains might send the price toward the $95,000 resistance level.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $91,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $89,250 level.<\/p>\n<p>The first major support is near the $87,850 level or the 76.4% Fib retracement level of the upward move from the $86,621 swing low to the $91,839 high. The next support is now near the $86,620 zone. Any more losses might send the price toward the $83,500 support in the near term.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bearish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $89,250, followed by $87,850.<\/p>\n<p>Major Resistance Levels \u2013 $91,000, and $92,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price saw a short-term correction below the $90,000 zone. BTC is now again rising and the bulls could now aim for a move above $94,000. Bitcoin started a fresh increase from the $86,600 zone. The price is trading above $88,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142],"tags":[22,29,32,35,36,154],"class_list":["post-1322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=1322"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1323"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}