Bitcoin Price has been fluctuating since November 2024 between $ 90,000 and $ 108,000. The level of $ 90,000 was a decisive support zone. It has been constantly preventing deeper declines during this period.
However, with Bitcoin currently trading at $ 95,879, the market looks close to this decisive support level test again.
Current price movement shows signals of Bitcoin throat. However, trading over the simple moving average for 100 days indicates that the bulls still have some hope.
This artistic indicator was a reliable scale for market feelings. Bitcoin’s ability to maintain positions on top of it may still inhibit more sellers at the present time.
the Relative power index (RSI) It draws a careful picture. The momentum index is currently reading at 44.30, approaching the sales lands.
Recent attempts to pushing the relative strength index failed on the 50th mark. This indicates that buyers are struggling to control the market. If the RSI continues to decrease to less than 40, this may increase the pressure pressure.
Possible scenarios for BTC price
Less daily closure than the decisive support level of $ 90,000 and 100 simple mobile flights It can lead to a large shrinkage. Technical analysis indicates that such a collapse can pay bitcoin to $ 73,000, based on historical support. This landline scenario becomes more likely if the relative strength indicator remains in the descending lands.
Also read: Predicting Prices on Unyxcoin (XCN): An analyst says $ 1 is still possible – here’s the reason!
However, the hope remains for the bulls. If Bitcoin maintains its location above $ 90,000 and SMA for 100 days, the bullish momentum may rule. The decisive break above the domain of $ 108,000 would completely nullify the landfill. This can pave the way for the highest new levels.
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