Technical analysis indicates that Bitcoin price is trading well above the 200-day Exponential Moving Averages (EMAs) and just taking support of the 50-day EMA. However, the golden crossover of these EMAs further highlights the strength of the uptrend, signaling sustained buying interest.
A successful break above the psychological resistance at $110,000 could trigger a fresh bullish rally, fueled by the unwinding of short positions.
On the downside, the $90,000 level is expected to act as a critical support zone, offering a safety net against significant retracements and providing a stable floor for BTC price in the near term.
