Bitcoin ($BTC ) is holding steady at $95,790.26, showing a slight 0.91% gain in the past 24 hours. However, the charts suggest BTC is at a critical juncture.
Currently, BTC is trading below the 7-day moving average ($98,906.61), signaling short-term bearish pressure. On the flip side, it remains above the 25-day and 99-day moving averages, hinting at underlying bullish strength over the long term.
The recent candlesticks show consolidation near the $95K level, indicating market indecision. Meanwhile, trading volumes are declining, pointing to weakening momentum.
For bulls, reclaiming $98K is key to reigniting an upward rally. A breakout above this level could push BTC closer to the $100K psychological milestone. However, a drop below $91K would likely trigger bearish sentiment, with potential downside toward key support zones.
Bitcoin's next move could set the tone for the coming weeks. Will it break out to new highs or slip into a bearish trend? Stay tuned as the market makes its decision!
