Bitcoin Holds Above $91,000, Eyes Fresh Increase Beyond $92,000

Bitcoin Consolidation Phase

  • Bitcoin is consolidating below $92,000 and holding the $89,500 support.
  • A recovery wave has begun with BTC trading above $90,000 and $90,500.
  • The price is above $91,000 and the 100 hourly Simple moving average.
  • A bullish trend line is forming with support at $90,650 on the hourly chart of the BTC/USD pair.

Resistance and Support Levels

  • The price faces resistance near $92,000 and $92,800.
  • If BTC closes above $93,450, it might test $94,000 and potentially reach $95,000 to $95,500.
  • If unable to surpass $92,000, BTC might decline towards $91,000 and $90,650 support levels.
  • The main support is at $89,250, which could lead to further decline if breached.

Bitcoin Price

Technical Indicators

  • Hourly MACD: Losing pace in the bullish zone.
  • Hourly RSI: Near the 50 level.