The article discusses the current price movements of Bitcoin and provides an analysis of different timeframes. The hourly chart shows minor pullbacks, but support levels at $91,000 and $90,000 suggest that sellers may be losing steam. The 4-hour chart indicates an uptrend with attractive entry points at $90,000 and $88,000. The daily timeframe confirms a strong trend with support at $85,000 and resistance at $93,500 and $95,000. Oscillators show mixed signals, with some indicators suggesting overbought conditions while others support continued buying momentum. The analysis suggests cautious optimism with profit targets at $93,500 and $95,000 if support holds. However, traders should remain aware of macroeconomic trends and sentiment shifts. Failure to hold support at $90,000 or a break below $88,000 could lead to a deeper correction. Overall, the article suggests that Bitcoin has further upside potential but advises caution.
- Content Editor ( news.bitcoin.com )
- 2024-11-16
Bitcoin Technical Analysis: BTC Holds Above $90K Despite Consolidation