Bitcoin (BTC) Price Compressing Between Two Key Levels – Is $74,000 Or $91,000 Next?
Bitcoin (BTC) is recovering from a five-month low, attempting to reclaim the $84,000 resistance after trading between $74,000 and $84,000. The cryptocurrency reached a one-week high of $84,720 but fell to $74,773 due to market corrections. A 13.7% drop to the $69,000 support was possible unless BTC closed above $78,500 for a short-term rebound. The market recovery was influenced by US President Trump's 90-day pause on trade tariffs, leading to a 6%-10% jump in crypto and stock prices. However, Bitcoin retraced nearly 5% to the $79,000 support. Analysts noted that BTC needs to reclaim the broken $80,000 support and break through a four-month downtrend resistance. Bitcoin's price is compressing between key levels, indicating potential volatility. Analysts observed bullish RSI divergences and suggested a possible retrace to the $74,000 support zone. Despite fluctuations, BTC's price reached a daily high of $84,220 before settling at $83,640, reflecting a 1% weekly decline.
