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Cryptocurrency experts predict that the bitcoin cryptocurrency BTC $77,260.31 Bitcoin -0.03% Market capitalization $1.55 trillion VOL. 24 hours $1.21 billion will soon set a new historical high. After all, the BTC price continues to consolidate near the $ 90,000 zone, which shows positive signals for new growth.
Experts expect that BTC may soon exceed $ 92,000, paving the way for new records.
It is reported that after a short-term drop below $ 90,000, the BTC price found support at $ 86,621.
Since then, the asset has regained ground, rising above $ 90,000. Currently, BTC is trading above the 100-hour simple moving average (SMA), which indicates a steady upward trend.
On the hourly chart of the BTC/USD pair, a key rising support line has formed at $ 89,600. This zone also corresponds to the 50% Fibonacci retracement level of the last movement from $ 86,621 to $ 92,607.
It is worth adding that on the way up, bitcoin may face resistance at $ 92,000, and the key level is $ 92,500.
Thus, a successful breakout of this zone could lead to further growth, potentially to $ 93,200 and even $ 95,000. If the bullish momentum continues, it is possible to reach $ 98,000 in the coming days.
Experts add that if bitcoin overcomes the $ 92,000 level, a short-term decline is possible. The main support is at $ 89,650 and $ 88,000. In the event of a stronger drop, the price may return to the $ 86,500 zone.
At the time of writing, the bitcoin rate reached $ 91,738, the market capitalization is $ 1.81 trillion, and daily sales stopped at $ 72.60 billion.
Photo: coinmarketcap.com/