What's Good Bitcoin?
It's been a while since I published a Bitcoin update. That's why I thought it was time for a fresh view.
Overall, Bitcoin has spent the last few weeks trading in a clear downtrend, with support levels holding at $93.5K and $91.5K–$92K.
On the upside, resistance is defined by the descending trendline and the $102K zone.
Here's the interesting part:
BTC is currently approaching the apex of the triangle formed between the downtrend resistance and horizontal support zones.
Given the technical setup and the return of higher volume with markets coming back online, we could see a strong move early next week—either a breakout above resistance or a further test of support. In case of a drop, I see 87k as the next resistance.
Therefore, I expect Bitcoin to trade sideways and get closer to the apex during the next few days before volatility kicks back in on Monday.
