Crypto price prediction: Bitcoin’s price anticipation a rollercoaster ride, no clear assumption

Bitcoin's price prediction:

Bitcoin is trading at $91,054 showing a 1.34% increase in the last 24 hours and a 4.57% rise over the past week. The market capitalization of Bitcoin stands at $1.78 trillion, with a trading volume of $48.2 billion in the last day. With 20 million BTC in circulation, Bitcoin remains the leading cryptocurrency in the market.

Last Sunday, Bitcoin attempted to break past the $95,000 mark but faced strong resistance and failed to sustain that level. The following day, it dropped 8.54%, falling below $85,000 on Tuesday. However, Bitcoin found support around this level, as it coincided with the 200-day Exponential Moving Average (EMA) at $85,760. This allowed BTC to bounce back and close above this crucial support zone.

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Bitcoin's recovery continued on Wednesday with a 3.81% increase, bringing it back above $92,000 on Thursday. This steady rebound suggests that buyers are stepping in at key support levels. If the $85,000 support holds, Bitcoin could continue to climb higher and possibly retest the $95,000 level in the coming days. This would be a key area to watch, as breaking above it could open doors for further gains.

Technical indicators also provide insight into Bitcoin’s next moves. The Relative Strength Index (RSI) is currently at 38.23 and moving downwards. The RSI measures market momentum, and when it rises above 50, it signals a shift toward a bullish trend but for now BTC is looking bearish. If Bitcoin can maintain its upward momentum, it might gain enough strength to continue its recovery.

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However, if Bitcoin fails to hold above $85,000, it could face a deeper correction. A breakdown below this level may push BTC towards the next major support at $73,000. Traders and investors should closely monitor Bitcoin’s price action around this critical level, as it will determine whether the recovery continues or another downturn occurs.

If the support at $85,000 remains strong, the BTC could regain its bullish momentum and aim for new highs. However, a drop below this key level could lead to further losses.