🚨 BTC Technical Update: The Breakout and the Re-Test
Bitcoin: Reclaiming Critical Ground, But Caution Remains
$BTC has demonstrated a significant move, breaking above the $$$93,000 resistance band and defending the key psychological support at $$$90,500. This recovery signals a positive shift from the recent period of volatility, hinting at renewed 'risk-on' sentiment.
Short-Term Momentum: The price action remains anchored above the 100-hour Simple Moving Average, maintaining a bullish posture.
Key Resistance Battle: A decisive close above the $$$94,000-$$95,000 range is crucial to confirm the next leg up towards the $$$96,450 objective.
The Critical Line: The $$$90,500 level now acts as the immediate critical support. A sustained move below this could signal a deeper short-term correction.
Market Sentiment & On-Chain Indicators
The broader market saw one of its strongest single-day recoveries recently, with 24-hour BTC trading volume indicating increased participant activity. The Crypto Fear & Greed Index has notably improved, moving out of extreme 'Fear' territory, reflecting a clear rise in optimism.
Trader Insight: While the rebound is strong, momentum indicators are cooling. This suggests the market is currently in a phase of consolidation. Expect a tightening range as bulls and bears battle for directional control. Patience is paramount.
What are you watching for in the next 24 hours: a bullish push to $$$95k or a re-test of $$$90.5k?
