Bitcoin's price has stabilized above the $90,000 mark, indicating a potential for further increases. Currently, Bitcoin trades above $87,500 and maintains its position above the 100 hourly Simple Moving Average. A key bullish trend line offers support at $87,200, hinting at a continuation of this upward trend.
After reaching a new all-time high of $93,435, Bitcoin experienced a slight dip but remains strong above $87,500. Resistance levels to watch include $90,500 and $91,200. A breakthrough above $93,500 could lead to further gains, potentially pushing the price to $95,000 or even $100,000.
In case Bitcoin faces resistance and begins a downward correction, immediate support can be found near $88,400, with significant support levels at $87,200 and $85,400. The price may drop to $82,500 if further declines occur.
Technical indicators highlight a weakening bullish momentum in the hourly MACD, while the RSI remains strong above 80. Major supports are at $88,400 and $87,200, with major resistance levels identified at $90,500 and $91,200.
