CandleFocus

Bitcoin Nears Major Breakout as RSI Hints at Market Shift  

Author: Content Editor
Bitcoin has reached three all-time highs in the past week, trading at $91,606.68. However, technical indicators suggest possible volatility ahead. The Relative Strength Index (RSI) is in a declining trend, indicating a potential market correction. The RSI on the 4-hour chart shows weakening market momentum, and the divergence between price and RSI highlights the need for caution. A triangle pattern on the chart suggests a consolidation period before a breakout, with traders waiting for confirmation before taking positions. Important support and resistance levels at $90,600 and $93,400 will determine the next major move for Bitcoin, with a drop below $90,600 potentially leading to a significant loss and surpassing $93,400 paving the way for a rally towards $100,000.

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