Bitcoin holds above support, paving the way for a larger move.

crypthub

about 11 hours ago

Current Consolidation

Bitcoin is consolidating below $92,000 while holding the $89,500 support level. A modest recovery pushed the price above $90,000 and $90,500, with trading now over $91,000 and the 100‑hour simple moving average. On the hourly chart a bullish trend line provides support around $90,650, suggesting the pair could climb if it stays above the $90,000 zone.

Resistance Landscape

The price meets a strong hurdle near $92,000, which aligns with the 50% Fibonacci retracement from the recent swing high. Immediate resistance sits at $92,000, followed by key levels at $92,800 and $93,450. A break above $93,450 could thrust Bitcoin toward $94,000, then $94,500, and potentially $95,000‑$95,500.

Downside Risks

If Bitcoin fails to breach the $92,000 zone, it may retreat toward the $91,000 support level. Further downside targets include $90,650 (trend line), the $90,000 region, and the $89,500 support. A drop below $89,250 could trigger accelerated declines in the near term.

Technical Indicators

The hourly MACD is losing momentum while remaining in bullish territory. The RSI hovers around the neutral 50 mark. Major support levels are $91,000 and $90,650; major resistance levels are $92,000 and $92,800.