Bitcoin ($BTC /USDT) Faces Resistance at $87,682 – Is Another Dip Coming? 📉

Bitcoin is experiencing a slight correction, currently down 2.42% to $87,682. After hitting a 24-hour high of $91,790, $BTC has seen increased selling pressure as it approaches key support levels. Traders are watching closely to see if $BTC can hold its ground or if further declines are on the horizon.

🔍 Key Highlights:

24H High: $91,790

24H Low: $86,668

Current Price: $87,682

24H Volume (BTC): 56,472.83 BTC

📊 Moving Averages Analysis:

MA(7): 87,974 – BTC is slightly below this short-term average, signaling near-term selling pressure.

MA(25): 89,466 – Mid-term resistance indicating challenges for BTC to reclaim recent highs.

MA(99): 87,402 – Long-term support, crucial for stabilizing BTC’s current level.

🔮 Key Levels to Watch:

1. Support at $86,668 – Holding above this recent low is essential to avoid further downside.

2. Resistance at $87,974 (MA(7)) – A breakout above this level could signal a potential recovery.

3. Target High at $91,790 – Regaining this level would bring BTC back into bullish territory, attracting more buyers.

⚠️ What’s Next for Bitcoin?

With BTC hovering near its support, a drop below $86,668 could indicate a continuation of the downtrend. However, reclaiming MA(7) might signal a bullish reversal. Keep an eye on these levels as BTC seeks stability in a volatile market.

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