5 hour ago
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Bitcoin Price Approaches $94,000 Resistance After Holding $90,000 Support
Bitcoin is currently trading above $92,000 and the 100 hourly Simple Moving Average, maintaining support above the $90,000 zone. There is a bearish trend line with resistance at $92,950 on the BTC/USD hourly chart.
- The price corrected down from the $94,500 zone but remains above key support levels.
- A move below the 50% Fib retracement from $87,776 to $94,582 was observed, but bulls held the $89,500 level.
- If Bitcoin clears the $93,500 resistance, it could aim for $94,000, potentially testing $94,750 or higher.
- Failure to rise above $93,000 may lead to declines towards $91,200 or $90,000, with significant support at $88,000.
Technical Indicators:
- Hourly MACD is gaining momentum in the bullish zone.
- Hourly RSI for BTC/USD is above the 50 level.
- Major Support Levels: $91,200, $90,000
- Major Resistance Levels: $93,000, $94,000