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Bitcoin Price Pauses at $90K: Is This a Breather Before the Next Move?

Bitcoin price extended gains above $88,000. BTC is now consolidating gains near $90,000 and might see a minor decline in the near term. Bitcoin extended its increase and traded above the $88,000 zone. The price is trading above $86,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $85,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise if it stays above the $85,000 zone. Bitcoin Price Sets Another ATH Bitcoin price started a fresh increase above the $85,000 level. BTC cleared the $86,500 resistance and traded to a new all-time high. It posted a high at $89,852 and is currently consolidating gains. There was a minor decline below the $88,500 level. However, the price is still well above the 23.6% Fib retracement level of the upward move from the $78,555 swing low to the $89,852 high. There is also a connecting bullish trend line forming with support at $85,200 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $86,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $88,500 level. The first key resistance is near the $89,200 level. A clear move above the $89,200 resistance might send the price higher. The next key resistance could be $90,000. A close above the $90,000 resistance might initiate more gains. In the stated case, the price could rise and test the $92,000 resistance level. Any more gains might send the price toward the $100,000 resistance level. Start of Downside Correction In BTC? If Bitcoin fails to rise above the $88,500 resistance zone, it could start a downside correction. Immediate support on the downside is near the $87,150 level. The first major support is near the $84,500 level or the trend line or the 50% Fib retracement level of the upward move from the $78,555 swing low to the $89,852 high. The next support is now near the $82,000 zone. Any more losses might send the price toward the $80,500 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 80 level. Major Support Levels – $87,150, followed by $84,500. Major Resistance Levels – $88,500, and $90,000. Crypto Potato

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Solana’s Value Stuck in Fourth Gear as Network Growth Races Ahead of Ethereum

Solana has continued to peck away at Ethereum, beating out the number two blockchain in key metrics along the way. Crypto Potato