Bitcoin Struggles Below $90,500 Amid Bearish Trend Line

Bitcoin's price has corrected below the $90,000 support zone after failing to break the $92,500 level. Current trading is below $90,000 and the 100 hourly SMA.

  • Downside correction initiated from $92,500, bottoming at $87,582.
  • Resistance levels stand at $90,000 and $90,500, with a bearish trend line resistance at $90,650.
  • If BTC surpasses $90,500, it might aim for $92,000 and potentially $93,200 or higher.

Bitcoin Price

Potential Decline

  • Failure to rise above $90,500 could lead to another decline.
  • Support levels are at $88,550, $88,000, and $87,500, with main support at $85,000.

Technical Indicators:

  • Hourly MACD: Showing bullish momentum.
  • Hourly RSI: Above the 50 level.

Key Support Levels: $88,550 and $88,000.
Key Resistance Levels: $90,000 and $90,500.