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Bitcoin Correction Below $91.8K Resistance

Written By: ChartChamp

November 12, 2024

Bitcoin has formed a correction shortly below $91.8k resistance. The rejection occurred just under $90k, and the narrative is that $90k is a psychological level. I think BTC is likely to rebound and rally back up to $91.8k. I think we are seeing a rally headed into Thanksgiving, and we still haven’t reached the $91.8k price target yet so I believe there will be more upside despite this pullback. These are massive price swings, BTC rallied by $9,200 yesterday and this correction is a $5,000 downswing. Altcoins are showing a lot of volatility from these price movements.

BTC formed another rejection at $90k. This time the price was briefly above $90k before a selloff. I think $90k is acting as a key psychological level here. I still have $91.8k as a key resistance target to monitor at the yellow trendline.

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