8 hour ago
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Bitcoin Trades Below $90,000 Amidst Consolidation Between Key Levels
Bitcoin (BTC) is trading just below $90,000 after a 1.8% net loss over the week. The cryptocurrency remains 29.16% below its all-time high. Analyst PlanD suggests BTC is in consolidation between two key levels.
Key Price Range: $85,000-$93,000
- Bitcoin is consolidating within a range of $85,400 to $93,000.
- A breakout above $93,000 could target $100,000, indicating bullish momentum.
- Falling below $85,300 may lead to a decline towards $72,000, a potential 19% drop.
- Market volatility suggests the consolidation period may end soon.
Current Market Status
- Bitcoin price: $89,703, a 2.99% decrease.
- Trading volume: up 4.56%, valued at $63.16 billion.
- Potential catalysts for a rebound include an anticipated interest rate cut and speculation around Kevin Hassett becoming Federal Reserve Chair.
