At the end of this week Bitcoin (BTC) is consolidating around the $90,000 mark, and according to analyst RLinda, the main cryptocurrency is expected to be in the near future. kriptovalyuta may target the $95,000 to $100,000 range.
Bitcoin’s recent shallow pullbacks on the hourly chart suggest that sellers are running out of steam. Current support is around $90,000, with resistance around $92,000, both of which are considered key levels to watch. Trading volume has eased over the weekend after the rally, suggesting that caution is on the rise.
Oscillators across the board paint a mixed picture. The Relative Strength Index (RSI) at 75 and the Commodity Channel Index (CCI) at 124 point to overbought conditions, calling for caution, while a bullish Moving Average Convergence Divergence (MACD) reading at 6077 supports continued buying momentum.
Moving averages (MA), including the 10-period exponential moving average (EMA) at $84,995 and the 200-period simple moving average (SMA) at $64,569, confirm the positive trend. The overlap of short-term and long-term MAs above the price hints at potential upside ahead.
A comprehensive look at Bitcoin suggests cautious optimism. Short-term traders should watch for bounces around $91,000, while medium- and long-term strategies could benefit from support zones at $90,000 and $85,000.
With resistance zones at $93,500 and $95,000 offering profit targets, placing stop losses below $88,000 makes sense for risk management.
Despite Bitcoin's current strength, traders should remain vigilant to macroeconomic trends and sentiment changes as external factors continue to have a significant impact on the market.
