What comes after the rise of Bitcoin? Scenarios of breakout or correction at the resistance level of $95,500. Bitcoin maintains its firmness above $92,000 supported by cautious optimism, despite the risks of volatility and economic pressures.
Breaking the resistance at $89,000 has paved the way for testing critical levels near $100,000, with a crucial watch on the fate of the trend.
A 20% increase in open interest in Bitcoin contracts raises the likelihood of violent fluctuations due to excessive use of leverage.
The success of breaking the downward channel boosts positive momentum, and breaking the resistance at $95,500 could open the way towards $100,000. The price of Bitcoin (BTC) continues to hold above the $92,000 level, showing clear signs of strength despite long selling pressures and the extended consolidation that has dominated the market over the past months. Buyers have temporarily regained control, pushing prices higher, supported by a wave of cautious optimism spreading through the markets.
However, the investment environment remains fraught with risks, amid ongoing price volatility and changing global economic conditions with rising trade tensions.
Bitcoin is testing critical levels amid rising volatility.