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Bitcoin (BTC) is trading at $94,935, registering a 1.5% gain from the previous day's close. The price tested an intraday high of $95,336 and found support at $92,842, maintaining a bullish structure above key levels.
Technical Overview
Support Levels: Bitcoin’s immediate support lies at $92,500, with a stronger base around $90,000, which aligns with the 20-day exponential moving average (EMA).
Resistance Levels: The primary resistance zone is at $96,500, and a breakout could push prices toward the psychological barrier of $100,000.
Trend and Pattern: Bitcoin continues to exhibit an ascending channel pattern on the daily chart, confirming bullish momentum. The RSI remains at 62, indicating room for further upward movement without entering overbought territory.
Future Projections
Bitcoin’s technical setup suggests a potential test of $98,000 in the near term, provided the price holds above $92,500. A sustained breakout above $100,000 could signal the start of a parabolic rally toward $120,000–$150,000 in the medium term. However, failure to hold support at $90,000 might lead to a pullback toward $85,000.