Bitcoin Under Pressure: Will It Break to 87,000 or Rebound to 100,000?
Current Status:
Current Price: 94,026.14 USDT.
Daily Down: -2.41%.
RSI: 37.19 (Suggests approaching oversold zone, but not yet oversold).
EMA Lines:
EMA(7): 96,978.65.
EMA(25): 96,928.66.
EMA(99): 87,371.85.
Support and Resistance Points:
1. Key Support Points:
90,500 USDT (Most Prominent Support on Current Chart).
89,600 USDT (next support based on current bottom).
87,000 USDT (aligned with EMA(99)).
2. Key resistance points:
96,150 USDT (nearby resistance based on lines).
97,268 USDT (24-hour high).
102,600 USDT (another medium-term resistance).
RSI at 37.19 indicates that the coin is close to oversold, which could prompt a rebound, but if it breaks the support at 90,500 USDT, it could continue to decline.
Current volume is relatively weak compared to previous price spikes, which means weak buying pressure.
Forecast:
Bearishness: If the support at 90,500 USDT breaks, the price could drop to 87,000 - 89,600 USDT levels.
Upside: If the price retraces the EMA(7) at 96,978 USDT, it is likely to test the resistance at 102,600 USDT.
Targets and Stop Loss:
1. Buy:
1st Target: 96,150 USDT.
2nd Target: 102,600 USDT.
Stop Loss: Below 89,500 USDT.