The important question now: Will we witness a new jump in the Bitcoin price to record levels? Or is the currency about to enter a correction phase? The answer will become clear soon as the price movement develops at these critical levels.
Current Bitcoin price: $90,721, with a significant increase of 2.94% over the day. It seems that the digital currency is experiencing strong movement today, reaching a peak of $91,439, while the daily trading volume amounts to a massive $3.08 billion.
Key levels to watch:
- The main resistance level at $91,439, and if surpassed, we may see a target of $92,000 then $95,000.
- The first support level at $89,053, followed by stronger support at $88,358.
Potential forecasts:
If the buying pressure continues, we may see a breakout above the resistance at $91,439, which could open the door for further increases. However, if the price declines, breaking the $89,053 level may attract more sellers.
Practical trading tips:
For traders looking for buying opportunities, it may be wise to wait until the price bounces from $89,053 or wait for confirmation of a breakout above $91,439. As for cautious traders, it is better to wait for confirmation of the price direction after testing these critical levels.
