Bitcoin recently surged past $87,000, breaking out of a consolidation range between $83,000 and $86,000. This breakout has shifted attention to the $90,000-$92,000 range, which previously acted as a strong support zone from December to early February. The cryptocurrency’s price dropped below $75,000 on April 7, but the recent bullish movement suggests a potential recovery. Bitcoin has also surpassed the 30-day exponential moving average of price highs, indicating a shift in momentum. The 200-day simple moving average currently stands at $88,245. However, a drop back to $85,000 by the end of the day could invalidate this bullish outlook. Markets often revisit breakout points before larger rallies, and Bitcoin might revisit $86,000, especially since the breakout occurred during early Asian trading hours when liquidity is typically lower.
Philakone
@PhilakoneCrypto
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Jan 26 Unfortunately, we couldn’t get a higher high. Therefore after spending 9 days trying to break above to ATH again, we break down. So $92K is a very possible target in February.
Skewga.hl
@skewga_hyper
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13h Im currently thinking we might get another dip before testing $92K BTC. Would love to go long near $80K as the weakest alts make new lows.Green box in the chart below shows what I want to see…
BlockTalk
@BlockT4lk
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7h #Bitcoin has officially confirmed the breakout from both the symmetrical triangle and the neckline of the inverse head & shoulders.Short term price target: $92KMeanwhile:US Tech futures ↓Dollar / $DXY ↓Gold → Continuing to surge to a new ATH
Philakone
@PhilakoneCrypto
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Jan 23 WARNING. DON’T THINK IT’S IMPOSSIBLE TO HIT $92K AGAIN. THIS POST ISN’T MEAN TO SCARE YOU. BUT BE AWARE. IF $99,600 DOESN’T HOLD, WE’LL 100% HIT $92K AGAIN.
Philakone
@PhilakoneCrypto
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Jan 26 I see the bigger picture now. Unfortunately, there aren’t many other ways to see this. There are 5 clear waves that have formed. I don’t want to admit this, but it’s highly likely we’ll see a huge drop soon. Once $99,600 breaks. We’ll 100% see the $92K ranges again. It must hold
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