Does $BTC reach a low point here❓❓

The weekly Bitcoin chart shows that it has found support around the 100-week Exponential Moving Average (EMA) at $85,597 after a four-week correction since the end of October. At the time this news was written on Friday, BTC was hovering around $91,200, recovering 5% so far this week.

If BTC continues its recovery, it could extend the rally towards the 50-week EMA at $99,860.

The Relative Strength Index (RSI) on the weekly chart reads 39, trending upward and indicating fading bearish momentum. For the recovery rally to be sustained, the RSI must move above the neutral level of 50.

On the daily chart, Bitcoin's price found support around the key psychological level of $80,000 last week.

If BTC continues its recovery, it could extend the rally towards the next key psychological level of $100,000, which roughly coincides with the 50-day EMA and the 50% Fibonacci retracement from the April low to the all-time high set in October.

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