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.

Bitcoin Price