Bitcoin Compressing Between Key Levels, Is $74K Or $91K Next?

With Bitcoin (BTC) recovery from its lowest level in five months, the cryptocurrency tries to restore the resistance of $ 84,000. Some market monitors indicate that more fluctuations can be around the meter, as the price presses between two main levels.

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Bitcoin re -testing the lower direction line for 4 months

During the past week, Bitcoin traded the price range between 74,000 and 84,000 dollars after fluctuations related to the recent tariff war. After reaching the highest level per week for 84,720 dollars, the pioneer encryption has reached its lowest level for a period of five months of $ 7477, driven by the market correction this week.

In the midst of this performance, the cryptocurrency risked a 13.7 % decrease to the support of $ 69,000, as it generally needed a daily closure above the level of 78500 dollars for the potential repulsion in the short term. However, the BTC price increased by 13.5 % since its lowest level on Monday and tried to restore the resistance of $ 84,000.

The market recovery feed the pause of US President Donald Trump for a period of 90 days on the commercial tariffs of more than 75 countries, which witnessed the encryption market and stock prices by 6 % -10 % on Wednesday.

However, the grouping gathering slowed by the tariffs slowed on Thursday, with Bitcoin recovered about 5 % to the support of $ 79,000. Analyst Alex Clay Assure Despite the upscale gathering, the BTC price needs to restore the broken support of $ 80,000 and penetrate the quiet resistance for 4 months as its structure continues in the short term.

During a 7 % increase in BTC in the past 24 hours, the analyst has highlighted the main support zone, which nullifies the rolling scenario. However, the confirmation of the recovery and the restoration of $ 84,000 remained decisive for the BTC price.

BTC preparation for more volatility?

The analyst Rekt Capital indicated that Bitcoin has been successfully re -installed with $ 78,500, but its price has been rejected from the lower direction resistance for 4 months. Therefore, the main encryption price is now the pressure between these two levels, which usually “precedes volatility”.

Also analyst male BTC is “another low development on RSI with the formation of lowest low levels on the price.” During this course, the cryptocurrency formed many RSI differences as a rise in the daily scheme, each preceding a reflection to the levels.

The daily RSI in Bitcoin 2022 is equivalent to RSI Market levels (RSI = 23.93) when the price decreased to $ 70,000. The only lower daily RSI returned in this session in August 2023 (RSI = 18.28). During this session, each visit to the Sub-25 RSI resulted in the opposite of the trend to the bullish direction over time.

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Meanwhile, the encryption analyst Ali Martinez Proposal BTC can see a restoration of the $ 74,000 support area. He noticed that the Bitcoin movements within its weekly scope exposed the shape of W on the upper borders, and it seems that its price movement constitutes the shape of M after the restoration of Thursday and jumped Friday, which appoints the lower borders of the domain.

On the contrary, the analyst also High Friday’s performance from Bitcoin, stressing that it “cuts the main resistance at $ 82,360.” It is worth noting that the price of BTC jumped and then jumped towards the barrier of $ 84,000, to reach the highest daily level of $ 84,220 before recovering to 83,500 dollars. According to Martinez, “The continuous collapse can open the door to $ 91500.”

As of the writing of these lines, Bitcoin trades at $ 83,640, a decrease of 1 % in the weekly time frame.

Distinctive photo of Unsplash.com, Chart from Tradingview.com