$BTC Price Analysis
Current Trend:
Bitcoin is trading above $87,500, showing signs of continued growth. The price has broken through key resistance levels and is consolidating above the 23.6% Fibonacci retracement level.
Key Levels:
Support: $87,300 (trend line), $87,600 (50% Fibonacci level), $86,800, and $85,500
Resistance: $88,600, $88,800, $89,500, and $90,500
Technical Indicators:
MACD: Rising in the positive zone
RSI: Above 50, indicating bullish momentum
Outlook:
If Bitcoin breaks above $88,800, it may aim for $89,500 and potentially $90,500 or $92,000. A failure to rise could lead to a correction, with support levels at $87,600 and $86,800.
