Usman Salis
⬤ Bitcoin has hit a make-or-break moment, pressing against a downward trend line that's kept it boxed in for almost three months. Trading near $90,000, BTC is sitting right at the spot where the next big move could happen. The question now: will it finally break through, or get rejected once again?
⬤ Two scenarios are playing out. If Bitcoin punches through resistance, analysts are eyeing $94,800 as the first target, with $107,300 and potentially $123,500 following if momentum continues. But if the trend line holds firm, expect a pullback toward $88,000 first, with $86,000 as the next support level to watch.
⬤ Predicting Bitcoin's next move isn't simple right now, especially with macroeconomic factors in play. But there's one bright spot: the RSI has broken its own downtrend, giving bulls something to work with. While BTC remains tightly wound near resistance, at least the momentum indicators are starting to look better.
⬤ Why this matters: Bitcoin still leads the entire crypto market. Altcoins rarely take off until BTC itself starts moving higher, making Bitcoin's direction crucial for everything else. With clearly defined levels above and below current price, the next few trading sessions could determine whether this three-month consolidation turns into a breakout rally or another round of downside correction.
Usman Salis
