Recently, Bitcoin's price movement has attracted a lot of attention. Some believe that BTC has cooled off below the 92K level, with the EMA moving average group showing resistance, but this may not be bad news.
Based on current data, BTC is trading at $91,272, and the bulls still hold the upper hand. The RSI indicator shows 51.6, indicating that market sentiment remains relatively positive. In this state, short-term pullbacks are more like market energy accumulation rather than a true downtrend signal.
Key technical levels to watch are: - Support at $89,446 - Resistance at $93,097 - A critical breakout level in the middle at $92,641
From on-chain data, this round of correction appears to differ from previous ones. The market seems to be brewing something. Especially with RSI still above 50, such corrections often harbor greater opportunities.
From a trading perspective, if there is an entry opportunity around 91,000, consider participating moderately. Once the price stabilizes above $92,641 and breaks upward, it could target $95,000 next. Of course, all trades should have stop-losses set. If the support at $89,446 is effectively broken, it’s time to exit decisively.
At this level, it’s important to seize potential gains while maintaining respect for risks. What are your thoughts on this market movement?
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Ramen_Until_Rich
· 6h ago
Staying above 50 on the RSI is indeed good, but to be honest, this wave of suppression feels a bit repetitive. Whether it can truly break through 92641 depends on if the trading volume can support it.
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MetaLord420
· 6h ago
There is indeed some interest around 91,000, but I still want to wait and see if I can reach 89,446 before getting in. I've heard too much about the buildup strategy.
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TokenEconomist
· 6h ago
actually, think of it this way—rsi at 51.6 is basically just market equilibrium dressed up in fancy indicators. the real variable here is whether those on-chain flows support actual buying pressure or if we're just seeing liquidation cascades masquerading as accumulation ceteris paribus
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IronHeadMiner
· 6h ago
91K this level really feels very tough to break through, it seems like the bulls don't have much strength to push higher.
Recently, Bitcoin's price movement has attracted a lot of attention. Some believe that BTC has cooled off below the 92K level, with the EMA moving average group showing resistance, but this may not be bad news.
Based on current data, BTC is trading at $91,272, and the bulls still hold the upper hand. The RSI indicator shows 51.6, indicating that market sentiment remains relatively positive. In this state, short-term pullbacks are more like market energy accumulation rather than a true downtrend signal.
Key technical levels to watch are:
- Support at $89,446
- Resistance at $93,097
- A critical breakout level in the middle at $92,641
From on-chain data, this round of correction appears to differ from previous ones. The market seems to be brewing something. Especially with RSI still above 50, such corrections often harbor greater opportunities.
From a trading perspective, if there is an entry opportunity around 91,000, consider participating moderately. Once the price stabilizes above $92,641 and breaks upward, it could target $95,000 next. Of course, all trades should have stop-losses set. If the support at $89,446 is effectively broken, it’s time to exit decisively.
At this level, it’s important to seize potential gains while maintaining respect for risks. What are your thoughts on this market movement?