Bitcoin (BTC) Price Forecast: The BTC/USDT pair is experiencing a positive contraction
Bitcoin Price Forecast
Although the price movement in the Bitcoin market remains largely weak based on its current status, bulls have already started to return in a noticeable and interesting way. Therefore, this market seems impressive and requires closer examination to identify trading opportunities.
BTC/USDT Long-Term Trend: Bearish (Daily Chart)
Key Price Levels:
Resistance: $90,000, $95,000, $100,000
Support: $85,000, $80,000, $75,000
On the daily chart, the price movement is still below the 20, 50, and 100-day moving average lines. However, the last price candle appears to be contracting upward, resembling a hammer candle. Meanwhile, the Relative Strength Index (RSI) has been steadily rising over the previous sessions.
#MarketPullback
BTC
87,309.07
-3.32%
