《Bitcoin Squats to $90,000: Is the Pullback Building Momentum or a Sign of Crisis?》

Bitcoin price has fallen below the $95,000 support and is now stable at $90,000! Is this a healthy correction or a potential warning?

Since failing to break through $97,500, Bitcoin (BTC) has initiated a downward correction, breaking through multiple support levels and currently fluctuating around $93,000. Is this round of decline an opportunity to build momentum for an upward surge, or does it indicate the risk of further pullbacks?

Current Situation Analysis: Short-term Fluctuation, Key Support Test

1. Support and Resistance:

Key Support Levels: $91,800, $90,500, $88,000; Upward Resistance Levels: $93,500, $94,800, $97,500;

After dropping to a low of $90,736, Bitcoin started a slight rebound, but facing pressure from the resistance zone at $93,500, whether it can continue to rise remains uncertain.

2. Trend Line Warning:

The BTC/USD hourly chart shows a bearish trend line at $93,500 acting as resistance. If it cannot break through, it may seek support again at $90,000, with a possibility of dropping to $88,000.

3. Technical Indicators:

MACD: Slowing down in the bullish zone, attention needed on momentum changes; RSI: Hovering below 50, indicating that the market has not fully regained bullish dominance.

Bullish Scenario:

If it breaks through the resistance zone at $93,500, it may return to $95,750 and test the high of $97,500; further increases could challenge $98,000.

Bearish Scenario:

Failing to hold above $93,500 may trigger market panic, gradually probing down to the support range of $90,000 or even $88,000.

A strike after the squat or a precursor to the bear's claws?

The current trend of Bitcoin reflects a state of tug-of-war between bulls and bears in the market. In the short term, the $90,000 support level is crucial for bullish defense and serves as a barometer of market sentiment. If you are a spectator, it might be worthwhile to wait for further directional confirmation before taking action; if you already have positions, it is advisable to monitor rebound opportunities near the $93,500 resistance level, cautiously adding to positions or considering stop-losses.

"Is the pullback a prelude to upward movement or the beginning of accelerated decline? Bitcoin will ultimately choose a direction, and you need to pay attention to Bo Shi, so you don't miss the next exciting script!"

#美国GDP数据即将公布 #比特币盘整分析 #比特币关键区间 #PCE与美联储纪要公布在即 #BTC☀ $BTC $ETH $SOL