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Bitcoin Tests Key Resistance Around $93K

Bitcoin (BTC) has started a fresh upward move, breaking above $90,500 and now testing critical resistance near $93,000. The 100-hourly SMA and a bullish trend line around $90,800 provide short-term support, suggesting momentum remains on the upside.

If BTC closes above $93,500, the next targets could reach $95,000–$96,500, with further resistance at $97,200 and $98,000. On the downside, failure to hold above $90,800 may trigger a retracement toward $88,400 or lower, with strong support at $84,000.

Technical indicators are currently bullish: the MACD is gaining pace in the positive zone, and the RSI remains above 50, signaling continued momentum. Traders are closely watching for a confirmed breakout, which could indicate whether BTC is positioned for a higher leg in the ongoing rally.

Closing Insight:

Bitcoin’s near-term price action is shaped by the $93K resistance. Monitoring how BTC interacts with this level, alongside trend-line support, can help traders anticipate potential breakouts or pullbacks.

FAQs:

Q: What is the immediate support for BTC?

A: $90,800, followed by $88,400 and $84,000.

Q: What resistance should traders watch?

A: $93,000 is key, with secondary levels at $93,500, $95,000, and $96,500.

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BTC tests $93K resistance; traders watch breakout potential while support levels hold near $90.8K and $88.4K.

Disclaimer: Not financial advice.