CandleFocus Bitcoin Price Holds The Line: Is Another Surge Possible?
2024-11-15
Author: Content Editor
Bitcoin price recently reached a new all-time high at $93,435, but has since experienced a short-term correction. The price dipped below $88,000 and formed a low at $86,621 before consolidating. It is currently trading above $87,000 and the 100 hourly moving average. The price could face resistance near the $90,000 level and there is a bearish trend line forming. However, if the price breaks above the resistance levels, it may initiate further gains towards the $95,000 resistance level. On the other hand, a failure to rise above $90,000 could lead to a downside correction with support levels at $87,150, $86,500, and $85,280. Technical indicators show the MACD losing pace in the bearish zone and the RSI below the 80 level.
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