Bitcoin Surges Above $90,000, Signals Potential for New All-Time Highs
Bitcoin Trading Update
- Bitcoin is trading above $90,000, showing signs of strength amid global tensions and macroeconomic uncertainty.
- Analyst Jelle noted Bitcoin has reclaimed range lows, indicating healthy consolidation and increased buyer confidence.
- If momentum continues, this could lead to new all-time highs.
- The recent surge may signal a reversal of the downtrend that began in January.
- Ongoing trade war concerns and interest rate uncertainties still pose risks to investor confidence.
- Caution is advised as any negative developments could impact market stability.
Key Price Levels
- Bitcoin currently trades at $92,500, confirming short-term bullish momentum.
- Recent movements have broken through key resistance levels (4-hour 200 MA and EMA).
- The focus is now on the psychological $100,000 mark as the next key resistance level.
- A drop below $88,500 could trigger a consolidation phase or larger correction.
- $88,500 is now a critical support level to maintain bullish structure.
