27 min ago
0 0
Bitcoin Price Targets $90K Amid Recovery Wave Above $88K
The Bitcoin price is currently in a recovery phase, trading above $87,000 and the 100 hourly simple moving average. Key points include:
- Bitcoin started a recovery wave climbing toward $89,000.
- Resistance levels are present at $88,200 and $90,000 on the BTC/USD hourly chart.
- A close above $90,000 could push the price towards $91,750, with further gains potentially reaching $92,500 and beyond.
- Failure to rise above $90,000 may result in a decline, with immediate support near $86,700 and major support at $85,000.
Technical indicators show the MACD gaining momentum in the bullish zone, and the RSI for BTC/USD is above 50.
Major resistance levels are identified at $89,000 and $90,000, while major support levels are at $86,200 and $85,000.