9 hour ago
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Bitcoin Defends $90,000 Support Amid Recovery Toward $98,000 Zone
Bitcoin Shows Signs of Recovery
- Bitcoin has regained key support levels after a sharp decline, with momentum shifting upwards.
- The current target is the $96,800–$98,000 imbalance zone.
- A close above $107,550 would signal a new bullish phase and negate the bearish market structure.
Technical Analysis Insights
- Crypto analyst Crypto Patel notes Bitcoin filled the Fair Value Gap (FVG) and tagged the Bearish Order Block.
- Traders positioned for upside in the $81,000–$85,000 range likely saw predictable gains.
- Patel expects Bitcoin to hit the $98,000 zone before any significant correction.
Support and Macro Sentiment
- Bitcoin defended the $90,000 support zone, indicating renewed buyer confidence.
- Macro sentiment improvements, like softer Federal Reserve expectations, are aiding recovery.
- Maintaining above the $90,000–$91,000 range is crucial for further upward movement.
Caution remains as momentum indicators and trading volumes need confirmation. The risk of a limited rebound persists due to recent aggressive sell-offs.
