Bitcoin Price Faces Fresh Pressure—Is Bitcoin Momentum Stalling for Bulls?
Bitcoin price pulled back after a rally and dipped below the $90,000 support area. It has since bounced somewhat but faces a hurdle near $90,500 that could cap another upside move.
- Bitcoin began a short-term downside correction from around $92,500.
- It’s trading under $90,000 and below the 100-hour simple moving average.
- A bearish trend line is forming with resistance near $90,650 on the hourly BTC/USD chart (Kraken data).
- A sustained close above $90,500 could keep the upside alive.
Bitcoin Price Eyes a Fresh Push
The run above $92,000–$92,500 fizzled, triggering a correction that pushed BTC below $90,500. The price even brushed an low near $87,582 after briefly slipping below $88,000, but buyers stepped in around $87,500. The latest bounce pushed BTC past the 23.6% Fibonacci retracement of the drop from $93,561 to $87,582.
Right now, BTC trades under $90,000 and the 100-hour moving average. If buyers stay active, another leg higher remains possible. Immediate resistance sits around $90,000, with the first major hurdle near $90,500. The downward-tilted trend line at $90,650 on the hourly chart adds further overhead resistance.
Beyond that, the next key resistance could be at $92,000. A daily close above $92,000 might open room toward $92,500, and potentially toward $93,200. Bulls’ next barriers could appear around $94,000 and $94,500.
Could BTC Slip Again?
If Bitcoin cannot clear the $90,500 zone, another decline remains on the table. Immediate support sits near $88,550, with a more substantial level around $88,000 acting as a first major anchor.
Additional weakness could push toward $87,500, and if selling accelerates, toward the $86,500 level. The broader support sits near $85,000; a break below this could accelerate downward momentum in the near term.
Technical snapshot:
- Hourly MACD: Rising in bullish territory.
- Hourly RSI: Above the 50 level, signaling current bullish momentum.
- Key supports: $88,550, then $88,000, followed by $87,500 and $86,500; major support at $85,000.
- Key resistances: $90,000, $90,500, then $92,000, $92,500, with higher barriers at $93,200 and above.
In short, Bitcoin is carefully perched between rising support and overhead resistance. A break above $90,500 could keep the upside intact, while a failure to clear this zone might invite renewed downside pressure. How do you weigh the odds—will bulls reclaim the level or do bears gain the upper hand? Share your view in the comments.
