Bitcoin shows signs of bullish momentum, with the $90,000 to $92,500 range serving as a robust support zone.
Bitcoin Support and Resistance
Bitcoin's price action reveals a clear trend of higher highs, consolidating above the $90,000 support zone. The 200-day moving average reinforces this support, creating a dependable foundation for buyers. Resistance between $110,000 and $112,500 limits further upward movements.
Market Cycles and Repetitive Patterns
The market exhibits rhythmic cycles, oscillating between support and resistance zones. These signal the preparation for the next directional move. These cycles create liquidity zones where traders actively enter or exit positions.
Dominant Bullish Sentiment
Analyst Doctor Profit emphasizes the importance of the $90,000 to $92,500 range as a long-entry region. The absence of downward breaches highlights the market's strength.
Bitcoin reinforces the overall bullish sentiment, with traders focusing on consolidation and breakout patterns ahead of reaching the $120,000 target.
