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Bitcoin Price Struggles Below $89,000 Amid Resistance Challenges
Bitcoin Price Analysis
- Bitcoin attempted a recovery wave above $86,800 but faced resistance at $89,250.
- The price is trading above $87,000 and the 100 hourly Simple Moving Average.
- A key rising channel with support at $87,650 is forming on the hourly BTC/USD chart.
- A break above the $89,500 zone may lead to further gains towards $90,500 or even $92,000.
- If unable to rise above $89,000, Bitcoin might decline, with immediate support at $87,500 and major support at $86,800.
- Technical indicators: Hourly MACD losing bullish momentum; RSI above 50.

Support Levels: $87,500, $86,800
Resistance Levels: $89,000, $89,500