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Bitcoin Price Prediction: What’s Next for BTC After 7% Weekly Decline to Under $90K?
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Bitcoin is currently in a corrective phase after failing to maintain a breakout above $95,000. The asset is trading around $89,000–$90,000, facing potential downside risks. Technical indicators show a shift in trend, with price action reflecting consolidation instead of a confirmed trend reversal.
Bitcoin remains in a corrective phase after the failure to sustain the breakout above the mid-$90,000s. The recent price action resembles a pullback within a broader range rather than a confirmed trend reversal, but the rejection at key moving averages and supply zones has shifted the short-term balance of risk toward further consolidation and possible downside tests before any renewed advance.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, the asset has rolled over from the $95,000 resistance band, which aligns with the underside of the 100-day moving average and sits well below the declining 200-day moving average. The prior ascending wedge that developed from the $82,000 demand region has now broken to the downside, and spot is trading around the former breakout and local support near $89,000–$90,000.
In This News
Coins
$ 89.20K
-0.23%Share:
In This News
Coins
$ 89.20K
-0.23%Share:
Read More
Bitcoin Price Prediction: Where Is BTC’s Floor if $90K Support Decisively Cracks?
Here’s why bitcoin’s is failing its role as a 'safe haven' versus gold
Bitcoin Price Prediction: What’s Next for BTC After 7% Weekly Decline to Under $90K?
Share:
Bitcoin is currently in a corrective phase after failing to maintain a breakout above $95,000. The asset is trading around $89,000–$90,000, facing potential downside risks. Technical indicators show a shift in trend, with price action reflecting consolidation instead of a confirmed trend reversal.
Bitcoin remains in a corrective phase after the failure to sustain the breakout above the mid-$90,000s. The recent price action resembles a pullback within a broader range rather than a confirmed trend reversal, but the rejection at key moving averages and supply zones has shifted the short-term balance of risk toward further consolidation and possible downside tests before any renewed advance.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, the asset has rolled over from the $95,000 resistance band, which aligns with the underside of the 100-day moving average and sits well below the declining 200-day moving average. The prior ascending wedge that developed from the $82,000 demand region has now broken to the downside, and spot is trading around the former breakout and local support near $89,000–$90,000.
In This News
Coins
$ 89.20K
-0.23%Share:
In This News
Coins
$ 89.20K
-0.23%Share:
Read More
Bitcoin Price Prediction: Where Is BTC’s Floor if $90K Support Decisively Cracks?