Bitcoin ($BTC) is currently navigating a crucial consolidation phase on the Daily (1D) timeframe. After facing rejection near the $94,789 mark, the price has found stable ground around $90,630.
The Road Ahead: Two Possible Scenarios
1. The Bullish Breakout:
If Bitcoin manages to close a daily candle above the $91,838 resistance (MA7), we can expect a quick rally back toward $95,000. Sustaining momentum above this could open the doors for a move toward the psychological $100,000 milestone.
2. The Healthy Retest:
On the downside, the $89,072 level (MA25) is serving as a vital safety net. As long as BTC holds above this support, the overall market structure remains bullish. A brief dip to retest the $84,450 area shouldn't be ruled out, as it would provide a stronger foundation for the next leg up.
Market Sentiment:
With a 24-hour trading volume of $1.17B USDT, liquidity remains high, suggesting that traders are actively positioning themselves for the next major move.
Investor Tip:
Keep a close eye on the $89,000 support. A bounce from here confirms strength, while a break below might lead to further consolidation. Trade with a plan and manage your risk!
What do you think is next for BTC? Are we hitting $100k this month? Let’s discuss in the comments! 👇
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