CandleFocus Bitcoin Price Gears Up for New ATH: Will Bulls Push Through?
2024-11-19
Author: Content Editor
The bitcoin price is currently consolidating its recent gains around the $90,000 range and showing positive signs of a potential rise above $92,000. After a short-term downside correction, bitcoin found support near $88,000 and is now recovering. It is trading above $90,000 and the 100 hourly Simple Moving Average, with a key bullish trend line forming at around $89,600. If the price can break above the $92,000 resistance, it may face further resistance at $92,500 and $93,200. On the other hand, if bitcoin fails to rise above the resistance zone, it could start a downside correction with immediate support at $90,000, followed by $89,650 and $88,000. The MACD is currently in the bearish zone, while the RSI is above the 50 level.
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