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Home»Analysis»Bitcoin Price finds support – but can it flow through $ 90k?
Analysis

Bitcoin Price finds support – but can it flow through $ 90k?

2025-03-27No Comments3 Mins Read
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Bitcoin price remained supported above $ 85,500 zone. BTC is now rising and can strive for a movement above the $ 88,000 resistance zone.

  • Bitcoin started a new wave of recovery above the $ 87,000 zone.
  • The price is traded above $ 87,000 and the simple simple advancing average of 100 hours.
  • There is an important bearish trend line that forms with resistance at $ 88,200 on the hour table of the BTC/USD pair (data feed from Kraken).
  • The couple can start a new increase if it knew the $ 88,000 and $ 88,200 levels.

Bitcoin -price remains supported

Bitcoin price remained stable above the level of $ 85,500. BTC formed a basis and recently started a recovery wave above the resistance level of $ 86,200.

The bulls pushed the price above the resistance level of $ 87,000. There was a decent upward move and the price was able to erase the FIB retraction level of 50% of the recent downward correction of the $ 88.259 Swing high to $ 85,853 Swing Low.

Bitcoin price is now traded above $ 86,500 and the 100 simple advancing average per hour. In addition, immediate resistance is near the $ 87,700 level and the 76.4% FIB retracement level of the recent downward correction of the $ 88,259 Swing High to $ 85,853 Swing Low.

See also  Bitcoin Price Relatively Muted - What Could Trigger A Sharp Decline?

The first key resistance is near the level of $ 88,000. The next key resistance can be $ 88,200. There is also an important bearish trend line that forms with resistance at $ 88,200 on the hour table of the BTC/USD pair.

Bitcoin -price
Source: BTCUSD on TradingView.com

An end above the resistance of $ 88,200 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 89,500 tests. More profits can send the price to the level of $ 90,000 or even $ 90,500.

Another drop in BTC?

If Bitcoin does not rise above the $ 88,200 resistance zone, this can start a new decline. Immediate support on the disadvantage is close to the $ 87,000 level. The first major support is near the level of $ 86,500.

The next support is now near the $ 85,500 zone. More losses can send the price in the short term to the support of $ 85,000. The most important support is $ 84,500.

Technical indicators:

MACD per hour – The MACD now wins pace in the bullish zone.

Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.

Important support levels – $ 87,000, followed by $ 86,500.

Large resistance levels – $ 88,000 and $ 88,200.

Source link

90K Bitcoin finds flow Price Support
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