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Bitcoin Price Analysis: Major Pullback or Explosive BTC Breakout Next?
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Bitcoin is approaching the $95K resistance area, coinciding with the 100-day moving average. Spot supply on exchanges is decreasing, creating a bullish backdrop, but profit-taking is anticipated. A break above this resistance is crucial for further upward movement, while a pullback may occur if it fails.
Bitcoin is grinding higher into a heavy resistance pocket while spot supply on exchanges keeps shrinking. Structurally, that’s a bullish backdrop, but technically, the price is pressing right into an area where profit-taking is expected. Therefore, either the price breaks and holds above this ceiling, or a corrective pullback into the mid-range would occur.
Bitcoin Price Analysis: The Daily Chart
On the daily chart, BTC has pushed back into the $95K resistance band, which lines up with the 100-day moving average. This is the same zone that rejected the asset on the previous bounces, so for now it still acts as a key supply area within the broader downtrend from the highs.
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Coins
$ 89.92K
+0.50%
$ 0.00353
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In This News
Coins
$ 89.92K
+0.50%$ 0.00353
Share:
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Bitcoin Price Prediction: is BTC About to Plummet Below $90K This Week?
US Crypto Market Structure Bill Further Delayed Until Late February or March – Report
Bitcoin Price Analysis: Major Pullback or Explosive BTC Breakout Next?
Share:
Bitcoin is approaching the $95K resistance area, coinciding with the 100-day moving average. Spot supply on exchanges is decreasing, creating a bullish backdrop, but profit-taking is anticipated. A break above this resistance is crucial for further upward movement, while a pullback may occur if it fails.
Bitcoin is grinding higher into a heavy resistance pocket while spot supply on exchanges keeps shrinking. Structurally, that’s a bullish backdrop, but technically, the price is pressing right into an area where profit-taking is expected. Therefore, either the price breaks and holds above this ceiling, or a corrective pullback into the mid-range would occur.
Bitcoin Price Analysis: The Daily Chart
On the daily chart, BTC has pushed back into the $95K resistance band, which lines up with the 100-day moving average. This is the same zone that rejected the asset on the previous bounces, so for now it still acts as a key supply area within the broader downtrend from the highs.
In This News
Coins
$ 89.92K
+0.50%$ 0.00353
Share:
In This News
Coins
$ 89.92K
+0.50%$ 0.00353
Share:
Read More
Bitcoin Price Prediction: is BTC About to Plummet Below $90K This Week?