🚀 New momentum above the ninety thousand mark
With the price of Bitcoin ($BTC ) stabilizing above the $90,000 mark and currently trading around $92,000, the market confirms that the upward momentum remains strong. These high price levels require precise technical analysis to determine whether we will witness a new breakout towards unprecedented peaks or if a prolonged consolidation period awaits us.
Here are the key support and resistance levels that every trader should monitor to determine the next move for the king of cryptocurrencies.
I. Current support levels: protecting profits
Maintaining these levels confirms that the 'bulls' are in control and profit-taking is not heading toward a deep correction:
* 1. Immediate support: located at $90,500. This level represents the first line of defense and the price must maintain a daily close above it.
* 2. Strong and pivotal support: located at $89,000. This level is an important previous bounce point. A daily close below it may push the price to test psychological support at $85,000.
II. Upcoming resistance levels: the road to the top
To achieve your goal of high profits, you should focus on resistance levels where a reaction from sellers is expected:
* 1. Immediate resistance: located at $93,500. Exceeding this level with high trading volume will open the way directly for testing the next peak.
* 2. The Major Target: our main target lies at $95,500. This is a major resistance level that has seen a previous reversal. A break and daily close above $95,500 means Bitcoin is heading towards $100,000 without major obstacles.
III. Technical indicators: what do the numbers tell us?
* Relative Strength Index (RSI): currently moving above the 60 level. This indicates momentum strength but should be monitored as it approaches the 70 level (overbought) which may require a short correction before a new surge.
* Moving Averages (MAs): the price is trading comfortably above the main moving averages (like the 20-day and 50-day), which is a strong bullish signal.
📊 Summary and Recommendation
As long as $BTC settles above the support level at $90,500, the overall trend remains strongly bullish. The short-term target is to surpass $95,500.
⚠️ Alert for traders: Stop-Loss orders should be placed below the $89,000 level to protect your portfolio from any sudden downturn.
Share your analysis in the comments: do you see Bitcoin reaching $100,000 before the end of this year?
