$BTC is currently trading in a consolidation phase around the $90,000 to $92,000 mark, following a recent pullback from its all-time high. The market is showing signs of indecision as investors digest recent economic data, including the latest Federal Reserve interest rate decision.
Key Technical Levels:
• Support: The immediate and critical support level lies between $88,000 and $90,000. This zone has acted as a strong floor, attracting buyers on recent dips. A break below $88,000 could open the door to further downside towards $84,000.
• Resistance: The primary resistance is the $93,500 to $94,500 range. A decisive daily close above this level is considered a key bullish signal that could reignite upward momentum and potentially lead to a retest of the psychological $100,000 barrier.
Short Market Note:
Overall sentiment remains cautiously optimistic. While the short-term trend is choppy and neutral-to-slightly negative, the long-term bullish structure is still intact. The market is currently in a "wait-and-see" mode, looking for a clear catalyst to break out of its current range. A successful hold above the $90,000 support and a subsequent break above $94,500 would be a strong confirmation of a renewed uptrend. Conversely, losing the $88,000 support would signal a deeper correction.
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