Analyst Identifies Bitcoin’s Key Support Level at $91,200
Bitcoin began May with bullish momentum, aiming for the $100,000 mark. A crypto analyst warned investors to remain cautious despite the positive trend.
BTC Price Outlook
- Burak Kesmeci analyzed Bitcoin’s price structure using the Pi Cycle Top indicator.
- This indicator employs a 111-day moving average and a 350-day moving average to forecast price peaks.
- The current divergence of these moving averages suggests potential upward growth.
- The 111-day moving average at approximately $91,200 serves as key support.
- Kesmeci predicts continued upward movement if Bitcoin closes above this short-term average on a weekly basis.
Current Bitcoin Price Information
Bitcoin's price is around $96,685, marking a 0.2% increase in 24 hours. It reached a high of $97,800 on May 2 and has gained over 2% in the last week.
