Bitcoin price started a downside extension below $92,000. BTC is now recovering from $89,220 and might face barriers for a fresh increase near $92,000.<\/em><\/p>\n Bitcoin price failed to stay above $91,500 and started a downside correction<\/a>. BTC dipped below $92,000 and $91,200 to enter a short-term bearish zone.<\/p>\n The price even dipped below $90,500 and tested $90,000. A low was formed at $89,225 and the price is now attempting a fresh increase. There was a move above $90,500. The price climbed higher above the 23.6% Fib retracement level of the recent decline from the $93,770 swing high to the $89,225 low.<\/p>\n Besides, there was a break above a bearish trend line with resistance at $90,750 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $91,000 and the 100 hourly Simple moving average.<\/p>\n If the price remains stable above $90,500, it could attempt a fresh increase<\/a>. Immediate resistance is near the $92,000 level and the 50% Fib retracement level of the recent decline from the $93,770 swing high to the $89,225 low. The first key resistance is near the $92,650 level.<\/p>\n The next resistance could be $93,500. A close above the $93,500 resistance might send the price further higher. In the stated case, the price could rise and test the $94,000 resistance. Any more gains might send the price toward the $94,500 level. The next barrier for the bulls could be $95,000 and $95,500.<\/p>\n If Bitcoin fails to rise above the $92,500 resistance zone, it could start another decline. Immediate support is near the $91,250 level. The first major support is near the $90,500 level.<\/p>\n The next support is now near the $90,000 zone. Any more losses might send the price toward the $89,250 support in the near term. The main support sits at $88,000, below which BTC might accelerate lower in the near term.<\/p>\n Technical indicators:<\/p>\n Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n Major Support Levels \u2013 $91,250, followed by $90,500.<\/p>\n Major Resistance Levels \u2013 $92,500 and $93,500.<\/p>\n<\/div>\n\n
Bitcoin Price Attempts Recovery<\/h2>\n
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<\/a>Another Decline In BTC?<\/h2>\n