Bitcoin Price Loses $90K, Traders Brace for a Volatile Next Move
Bitcoin price started a fresh decline below $90,000. BTC is consolidating losses and remains at risk of more losses if it dips below $88,000. Any more gains might send the price toward the $94,000 level. There is also a bearish trend line forming with resistance at $94,200 on the hourly chart of the BTC/USD pair. The next barrier for the bulls could be $95,000 and $95,500. If Bitcoin fails to rise above the $91,650 resistance zone, it could start another decline. Immediate support is near the $88,800 level. The first major support is near the $88,000 level. The next support is now near the $87,500 zone. Any more losses might send the price toward the $86,200 support in the near term. The main support sits at $85,000, 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 – $88,800, followed by $88,000. Major Resistance Levels – $91,650 and $92,000.More Losses In BTC?
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