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Crypto

Bitcoin Bounces Off Moving Averages, But $88K-$90K Resistance Remains

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin's recent recovery has brought its price to around $84K, reclaiming key moving averages in the process. However, the cryptocurrency still faces significant resistance at the $88K-$90K level.

The 100-day and 200-day moving averages are now near $70K and $71K respectively, with both showing a bullish trend as they turn higher. A bullish crossover is close on the daily chart.

Despite this momentum, Bitcoin's price has been unable to sustain its advance beyond the $88K-$90K area, which appears to be a substantial supply zone. The next major resistance level comes in at around $95K.

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