Bitcoin Price Flirts With Breakout — Key Resistance In Sight 📈
Bitcoin price is consolidating above the $94,000 zone, aiming for a breakout above the $95,500 resistance. Supported above $93,500, BTC shows positive signs, trading above $94,000 and the 100 hourly SMA. A bullish trend line provides support at $94,200 on the BTC/USD hourly chart.
A fresh increase brought the price above $94,000, with a recent high at $95,488 leading to a downside correction, testing support zones. Immediate resistance lies at $95,250, with significant resistance levels at $96,250 and potentially $97,500.
Failing to clear $95,500 resistance may initiate another downward correction, targeting supports at $94,200 and potentially $92,900. A main support zone sits at $91,200.
Technical indicators: Hourly MACD gains in the bullish zone; the RSI is above 50. Key support levels are $94,200 and $93,500, with main resistances at $95,250 and $95,500.
Source: www.newsbtc.com ↗
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