Bitcoin is due for a big move soon, as the price is trading in a tight range between $89.3k and $92k. Yesterday evening BTC formed a rejection at the $92k resistance level, and this morning there is a bullish rebound forming at the light blue support zone. I think BTC continues trading in a range for now, I would monitor for a breakout above $92k and I would monitor to make sure the light blue support zone keeps providing support above $89.3k. I think it’s possible for BTC to climb above $92k this week.
BTC is attempting a bullish breakout above $92k. I think BTC does get a successful breakout here, and starts to rally towards $100k. I’m not sure if we can get up to $100k, I feel like BTC will peak in the $90k levels without reaching $100k. For now $100k is a key psychological level, there will be a ton of sell pressure around there.
BTC continues to trade sideways within this trading range with support at the light blue zone and resistance at $92k. I think BTC will eventually form a breakout to the upside, and I think we can form a peak some point this week. Keep in mind we have a pattern of 2 weeks up, 2 weeks down. We just opened started a new 2 week period with a likelihood of downside, but i don’t believe BTC has peaked yet.
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