Bitcoin Price Holds The Line: Is Another Surge Possible? 📈
Bitcoin experienced a short-term correction from the $93,450 zone and is currently consolidating near $87,000. Despite recent losses, the price remains above the 100 hourly Simple Moving Average, indicating potential for future increases.
A bearish trend line presents resistance at $90,000 on the BTC/USD pair chart. Overcoming this resistance, especially breaking through $90,850, could trigger a new upswing, potentially testing the $93,450 and $95,000 levels.
Conversely, failure to surpass the $90,000 resistance may lead to further declines, with key support levels at $87,150 and $86,500. A drop below these could push the price towards the $82,500 support zone.
Technical indicators show the hourly MACD losing pace in the bearish zone, while the RSI for BTC/USD remains below the 80 level, pointing to potential price movements in the coming periods.
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