Bitcoin Price Update $BTC Eyes $90K, but weak Momentum Could Signal a Temporary Correction
Bitcoin has shown some signs of recovery, finding support at the crucial $80K level, which aligns with the 200-day moving average and the lower boundary of the ascending channel. This region has held strong, but the bullish momentum appears to be weakening, raising questions about whether this rebound is a short-term correction or the start of a sustained uptrend.
Key Technical Levels to Watch:
•Support: The $80K support zone remains a stronghold, with Bitcoin bouncing off this level.
•Resistance: The $92K zone is the next key resistance, where the 100-day moving average could provide a barrier.
•Short-Term Outlook: Bitcoin has broken out of its descending wedge pattern and is showing signs of upward movement, but the $92K resistance could be a major test.
In the mid-term, Bitcoin could face another push toward $92K as liquidity levels above this resistance could attract bulls. If BTC can decisively break through this level, a sustained bullish trend could follow.
However, if Bitcoin struggles to break $92K, there might be a short-term pullback, offering an opportunity for smart investors to accumulate before the next major move.
Stay tuned as market conditions continue to unfold. 📊🚀