Bitcoin Price Dips Further, Setting Up a High-Stakes Support Moment
Bitcoin price started a downside correction from $94,500. BTC is now struggling and might dip toward the key support at $89,000. The next resistance could be $92,500. A close above the $92,500 resistance might send the price further higher. In the stated case, the price could rise and test the $93,050 resistance. Any more gains might send the price toward the $93,800 level. The next barrier for the bulls could be $94,000 and $94,500. If Bitcoin fails to rise above the $92,500 resistance zone, it could start another decline. Immediate support is near the $90,500 level. The first major support is near the $90,000 level. The next support is now near the $89,000 zone. Any more losses might send the price toward the $87,200 support in the near term. The main support sits at $86,000, below which BTC might accelerate lower in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $90,500, followed by $90,000. Major Resistance Levels – $92,200 and $92,500.More Downsides In BTC?
About Author
