Today, Bitcoin ($BTC ) opened at $88,349. It has increased by 0.56% compared to the opening price. After falling to $87,896, it is trying to continue its growth. Since reaching the maximum price in the last 30 and 7 days, its value has decreased by -6.00% and -1.95%, while since reaching the minimum recorded price for the same period, it has increased by 9.63% and 5.15%.
According to the analysis, for potential advancement to the first important resistance level at $90,907, it is crucial for BTC to stay above $87,341. A breakout at $90,907 could give BTC momentum and lead to the next resistance level at $94,381. The third resistance level is even higher, at $99,449. These levels indicate potential points where BTC may face resistance or, conversely, increase in price.
If the price drops, the first support level to watch will be $87,341. If this level does not hold, further declines may occur to the next support level at $85,188.
The exponential moving averages (EMA) on the daily chart indicate a bearish signal. Bitcoin is above only the 10-day EMA but below the 20-, 50-, 100-, and 200-day exponential moving averages.
