Crypto price prediction: Bitcoin (BTC) is struggling to break the resistance

Bitcoin's price prediction:

BTC chart analysis

Bitcoin is currently priced at $90,082. Over the past 24 hours, it has gained 7.51%, showing strong upward momentum. However, when looking at the past week, Bitcoin has declined by 3.65%. Despite this short-term volatility, Bitcoin remains a dominant asset in the crypto market, with a market capitalization of over $1.8 trillion and a circulating supply of 20 million BTC.

Last week, Bitcoin experienced significant price fluctuations. It started at a high of $96,500 on Monday but later dropped to $78,258 by Friday. However, over the weekend, it recovered by 11.50% and closed above $94,270 on Sunday. By Monday, Bitcoin was trading at around $92,000, showing signs of stabilization.

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If Bitcoin continues to recover, it could push higher and test the key resistance level of $100,000. Breaking above this level would indicate strong bullish momentum and could attract more investors. However, for this to happen, Bitcoin needs sustained buying pressure to drive its price higher.

The Relative Strength Index (RSI), which measures price momentum, is currently at 38.93. This suggests that Bitcoin is struggling at oversold levels but still faces resistance around the neutral level of 50. For Bitcoin to maintain its upward trend, the RSI must rise above 50, signaling stronger bullish momentum.

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On the other hand, if Bitcoin fails to hold above $85,000, it could face further declines. A drop below this support level might lead Bitcoin to test the next support at $75,000. Investors will closely watch price movements in the coming days to determine the next possible direction.