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- Daily Chart: Bitcoin Maintains Key Support Level
Bitcoin is trading above the short-term support level of $90,000 on Thursday amid ongoing selling pressure. The 50-day Exponential Moving Average (EMA) at $96,553, the 100-day EMA at $101,928, and the 200-day EMA at $103,575 confirm the overall downtrend.
The Relative Strength Index (RSI)( has fallen to 44 on the daily chart after bouncing off the midline 50, indicating increasing bearish momentum. If Bitcoin's price closes today below $90,000, sellers may take control and push the price toward the support level tested on Sunday at $87,719.
Daily BTC/USDT Chart
Nonetheless, the Moving Average Convergence Divergence (MACD)) has maintained a buy signal since November 26, suggesting a slight advantage for buyers and the potential to push the price toward the resistance level at $94,150. However, the green histogram bars should continue to expand to strengthen this hypothesis.