Ah, the sweet taste of recovery, so fleeting! 😏 Bitcoin‘s price failed to clear $90,000 and trimmed all gains, leaving investors wondering what’s next? 🤔
- Bitcoin’s recovery wave was short-lived, failing to surpass $90,000 🚫
- The price is now trading below $88,000 and the 100 hourly Simple moving average 📉
- A declining channel is forming with resistance at $87,500 on the hourly chart of the BTC/USD pair 📊
- If the price trades below $86,500, it’s game over… or is it? 😳
Bitcoin Price Takes a Diving Board 🤯
Bitcoin’s price attempted a fresh increase above $88,500 but struggled near $90,000 🚀. A high was formed at $90,298 before the bears appeared, and the price took a sharp downside reaction below $89,000 📉.
A low was formed at $86,700, and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $90,298 swing high to the $86,700 low 📊. Will it stay above $86,500, or is it a trap? 🤷♂️
Immediate resistance is near the $87,500 level, and a close above the $88,500 resistance might send the price flying… or not? 🚀
If Bitcoin fails to rise above the $88,500 resistance zone, it could start another decline 🚨. Immediate support is near the $86,500 level, and the next support is near the $85,500 zone 🚫.
More Pain for BTC? 🤕
Technical indicators are looking bearish, with the MACD gaining pace in the bearish zone and the RSI below the 50 level 📉.
Major Support Levels: $87,500, followed by $88,000 🚫
Major Resistance Levels: $86,500 and $86,000 🤔
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2025-12-30 06:20