FameEX Hot Topics | Bitcoin Price Analysis: Bulls Eye $98,800 Breakout as $100,000 Mark Looms

Bitcoin’s price action is currently holding steady between $96,000 and $99,000, recovering from a 10.3% decline since its January 2025 all-time high. The broader trend remains in a consolidation phase, with critical resistance at $109,356 and support at $89,164. A sustained position above $96,000 could indicate a bullish reversal toward the $102,000–$105,000 range, while a dip below $94,000 may prompt a retest of $90,000. Market participants are monitoring these levels closely to determine the next significant move.

On the 4-hour chart, Bitcoin recently rebounded from the $93,340 support zone, and increased buying volume suggests renewed interest from bulls. Immediate resistance lies at $98,871; a breakout beyond this point could drive the price to the $100,000 level. Conversely, rejection at this resistance could lead to a pullback to $94,000–$95,000. This timeframe highlights $98,800 as a key threshold: a breakout above it signals short-term bullish momentum, while failure to break it may invite further bearish pressure.

Zooming into the 1-hour chart, Bitcoin continues its steady uptrend after retesting the $93,340 support. Resistance at $98,058 is crucial—breaking above it could quickly push the price toward $99,500. For scalpers, long positions above $97,800 could target the $99,000–$100,000 range, but a drop below $98,000 might attract short-term bears aiming for $96,500. Rising trade volume lends strength to the bullish case, though traders remain cautious given ongoing volatility.

Technical indicators offer mixed signals. Oscillators such as the RSI at 49 and momentum at 281 point to a cautiously optimistic outlook. The MACD reading of -872 also leans bullish. However, moving averages show a more complex picture: while shorter-term EMAs (10, 20) at $96,904 and $97,595 indicate a buy signal, longer-term EMAs (30, 50) above $98,029 suggest selling pressure. These conflicting indicators reflect current market indecision.

In summary, Bitcoin’s near-term trajectory hinges on the $96,000 support level and the $98,800 resistance. A breakout above $98,800 could pave the way for a rally toward $102,000–$105,000, while failure to maintain $96,000 may result in a deeper correction to $94,000 or even $90,000. Both bullish and bearish scenarios remain possible, making these levels critical for traders in the coming days.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.