- Chart of the Day: Can Bitcoin Maintain Its Key Support Level?
Bitcoin is trading above the pivotal $91,000 level at the time of writing on Friday, as sellers look to regain control after a recovery from Monday’s low of $83,822.
The Moving Average Convergence Divergence (MACD) on the daily chart has maintained a bullish outlook since November 26, when the blue MACD line crossed above the red signal line.
The green historical bars above the average line further support the bullish outlook. However, the indicator remains below the average line itself, which may limit the potential for recovery.
BTC/USDT Daily Chart
The bearish Relative Strength Index (RSI) is steady at 44, indicating increasing bearish momentum. Bitcoin’s price is also below the 50-day Exponential Moving Average (EMA) at $98,153, the 100-day EMA at $103,370, and the 200-day EMA at $104,378, all of which could limit price rebounds. A break below the $90,000 level could accelerate its decline toward $80,000.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
- Chart of the Day: Can Bitcoin Maintain Its Key Support Level?
Bitcoin is trading above the pivotal $91,000 level at the time of writing on Friday, as sellers look to regain control after a recovery from Monday’s low of $83,822.
The Moving Average Convergence Divergence (MACD) on the daily chart has maintained a bullish outlook since November 26, when the blue MACD line crossed above the red signal line.
The green historical bars above the average line further support the bullish outlook. However, the indicator remains below the average line itself, which may limit the potential for recovery.
BTC/USDT Daily Chart
The bearish Relative Strength Index (RSI) is steady at 44, indicating increasing bearish momentum. Bitcoin’s price is also below the 50-day Exponential Moving Average (EMA) at $98,153, the 100-day EMA at $103,370, and the 200-day EMA at $104,378, all of which could limit price rebounds. A break below the $90,000 level could accelerate its decline toward $80,000.