Bitcoin technicals
Bitcoin moved lower earlier today, but buyers stepped in at the 200-bar moving average on the 4-hour chart, currently at $86,703. Sellers attempted to push the price below that level, but momentum quickly faded, indicating that short-term control remains with the buyers. A sustained move below the 200-bar MA would be needed to shift the bias more firmly back to the downside.
On the topside, the $89,113 level stands out as a key resistance zone. This area marks the 38.2% retracement of the decline from the all-time high and coincides with a notable swing area (highlighted by the red numbered circles). A break above this level would be a bullish technical…
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