Bitcoin's price remains a market focal point as it holds above a critical support level. Trend analysis suggests two primary price scenarios.
Current Market State
Bitcoin's price showed resilience, increasing by 0.9% to $84,443.30. Analysts continue to watch for potential signs of price decline, predicting movement between $72K and $74K.
Technical Analysis: Neutral Momentum
Indicators point to a weakening long-term bullish trend despite recent price increases. The RSI stands at 45.44, indicating neutral momentum, while the MACD shows bullish momentum as the line is above the signal.
Possible Price Scenarios
If support is maintained, prices could temporarily rise to $87K-$90K. A breakdown could trigger a correction toward $72K-$74K, indicating a significant market sentiment shift.
The coming days will be crucial for Bitcoin's trajectory. Sustaining support may lead to short-term bullish momentum, while a breakdown could lead to a deeper correction.
