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Bitcoin Rises Above $91,000 Eyeing Break Past $91,650 Resistance
Bitcoin's price has risen above $90,500 and is now consolidating gains. It may attempt to break above $91,650.
- BTC initiated an increase past the $90,500 mark.
- The price is trading above $91,000 and the 100 hourly Simple moving average.
- A break occurred above a key bearish trend line at $90,000 on the BTC/USD hourly chart.
- A potential continuation could see BTC settle above $91,650.
Resistance and Support Levels
Bitcoin is facing resistance after a surge beyond $93,000, reaching a high of $94,050 before correcting.
- Immediate resistance is near $91,650, with further levels at $92,000 and $93,000.
- A close above $93,000 could drive the price towards $95,000, potentially reaching $96,200 and $96,450.
- If unable to surpass $91,650, BTC might decline, with support at $90,000 and major levels at $89,500 and $87,800.
- Main support sits at $86,500; falling below could lead to further declines.
Technical Indicators:
- Hourly MACD: Gaining momentum in the bullish zone.
- Hourly RSI: Above the 50 level, indicating bullish sentiment.
- Major Support Levels: $90,000 and $89,500.
- Major Resistance Levels: $91,650 and $92,000.
