{"id":1364,"date":"2024-11-20T06:00:22","date_gmt":"2024-11-20T06:00:22","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-price-on-the-rise-is-there-more-fuel-for-the-rally\/"},"modified":"2024-11-20T06:00:22","modified_gmt":"2024-11-20T06:00:22","slug":"bitcoin-price-on-the-rise-is-there-more-fuel-for-the-rally","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-price-on-the-rise-is-there-more-fuel-for-the-rally\/","title":{"rendered":"Bitcoin Price on the Rise: Is There More Fuel for the Rally?"},"content":{"rendered":"<p><em>Bitcoin price is consolidating gains near the $91,000 zone. BTC is holding gains and might soon aim for more upsides above the $94,000 level.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase above the $91,000 zone.<\/li>\n<li>The price is trading above $91,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a key bullish trend line forming with support at $90,800 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 $93,200 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Could Rally Again<\/h2>\n<p>Bitcoin price remained supported above the $90,000 level. BTC formed a base and started a fresh increase above the $91,000 level. It cleared the $93,000 level and traded to a new high at $94,000 before there was a pullback.<\/p>\n<p>There was a move below the $93,000 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $89,400 swing low to the $94,000 high. However, the price is stable and consolidating near the $92,000 level.<\/p>\n<p>Bitcoin price is now trading above $91,000 and the 100 hourly Simple moving average. There is also a key bullish trend line forming with support at $90,800 on the hourly chart of the BTC\/USD pair. The trend line is close to the 61.8% Fib retracement level of the upward move from the $89,400 swing low to the $94,000 high.<\/p>\n<p>On the upside, the price could face resistance near the $92,600 level. The first key resistance is near the $93,200 level. A clear move above the $93,200 resistance might send the price higher. The next key resistance could be $94,000.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"wp-image-653959 size-full\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/11\/Bitcoin_826d3b.png?resize=1024%2C478\" alt=\"Bitcoin Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A close above the $94,000 resistance might initiate more gains. In the stated case, the price could rise and test the $98,000 resistance level. Any more gains might send the price toward the $100,000 resistance level.<\/p>\n<h2>Another Pullback In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $94,000 resistance zone, it could start a downside correction. Immediate support on the downside is near the $91,700 level.<\/p>\n<p>The first major support is near the $90,700 level. The next support is now near the $89,500 zone. Any more losses might send the price toward the $87,500 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 $91,700, followed by $90,700.<\/p>\n<p>Major Resistance Levels \u2013 $92,600, and $94,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is consolidating gains near the $91,000 zone. BTC is holding gains and might soon aim for more upsides above the $94,000 level. Bitcoin started a fresh increase above the $91,000 zone. The price is trading above $91,000 and the 100 hourly Simple moving average. There is a key bullish trend line forming with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":1365,"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-1364","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\/1364","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=1364"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/1364\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/1365"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=1364"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=1364"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=1364"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}