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9 hour ago
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Bitcoin Price Surges Above $92,000 Testing $94,000 Resistance

Bitcoin Price Analysis

  • Bitcoin price has increased above $92,000 and is testing the key resistance at $94,000.
  • The price is trading above $91,500 and the 100 hourly Simple Moving Average.
  • A bullish trend line is forming with support at $92,000 on the BTC/USD hourly chart.
  • If Bitcoin settles above $94,000, it may continue to rise towards $95,000 and possibly test $95,850.

Potential Upside and Resistance Levels

  • Immediate resistance: $94,000.
  • Key resistances: $94,200, $95,000, and potentially $96,500.
  • Further resistance levels: $97,200 and $98,000.

Bitcoin Price

Potential Downside and Support Levels

  • If Bitcoin fails to break $94,000, it could decline.
  • Immediate support: $92,000.
  • Major supports: $91,200 and $88,850 (50% Fib retracement).
  • Lower support levels: $87,500 and $86,500.

Technical Indicators:

  • Hourly MACD: Bullish momentum increasing.
  • Hourly RSI: Above 50, indicating bullish sentiment.

Overall, Bitcoin shows potential for further gains if it breaks above key resistance levels. However, failure to do so might lead to a downturn towards the indicated support zones.