Bitcoin Price Stabilizes Above $92,500 After Recent Surge

Bitcoin Price Update

Bitcoin is currently trading above $93,200 and consolidating gains. The following key points summarize the situation:

BTC has risen above $91,500 and $92,500 levels.
The price is above $91,500 and the 100 hourly Simple Moving Average.
A bullish trend line supports at $92,000 on the BTC/USD hourly chart.
Clearance of the $94,650 zone could lead to further increases.

Current Price Movements

Bitcoin remained stable above $88,000, climbing past resistance levels of $90,000 and $91,500. A peak was reached near $94,635 before recent consolidation.

Immediate resistance is around $94,000, with key levels at $94,200 and $94,650. Closing above $94,650 may trigger a rise towards $95,500 and potentially $96,200.

Potential Downside Risks

If Bitcoin does not surpass the $94,000 resistance, a correction may occur. Support levels are:

Immediate support at $93,000
Major support at $92,000
Next support near $90,500 and $90,000
Main support at $88,800

Technical indicators show the MACD losing momentum in the bullish zone and the RSI above 50.