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19 hour ago
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Bitcoin Price Targets Recovery Above $91,500 Amid Potential Decline

Bitcoin is currently in a consolidation phase below $90,500. The price experienced a decline, reaching a low of $87,200, and is now attempting a recovery.

  • BTC is trading below both $90,500 and the 100-hourly Simple Moving Average.
  • A short-term bearish trend line was broken with resistance at $89,700 on the BTC/USD hourly chart.
  • The price might recover if it settles above $90,500 and $91,500.

If Bitcoin stabilizes above $89,000, it could initiate a fresh increase. Immediate resistance levels are at $90,300 and $91,500. A close above $91,500 might lead to a rise toward $92,300, with potential gains up to $93,000, and further barriers at $95,000 and $95,500.

Bitcoin Price

Failure to break the $91,500 resistance may result in another decline. Immediate support is at $89,000, followed by major supports at $88,200 and $87,500. Further losses could push the price toward $86,500 or even $85,500.

Technical Indicators:

  • The Hourly MACD is losing pace in the bearish zone.
  • The Hourly RSI for BTC/USD is above the 50 level.

Support Levels: $89,000, $88,200.

Resistance Levels: $90,300, $91,500.