Bitcoin Price Watch: Bulls Push for $90K Breakout Amid Market Volatility
Bitcoin is currently valued at $88,165, facing critical resistance around $90,000. The market shows signs of recovery from lower levels but remains in a broader downtrend. Key support levels around $85,000 are crucial for sustaining bullish momentum, while bearish signals persist concerning selling pressure.
As of March 4, 2025, Bitcoin is valued at $88,165, exhibiting a market capitalization of $1.72 trillion and a 24-hour trading volume reaching $69.81 billion. The cryptocurrency fluctuated between lows of $81,463 and highs of $88,825, indicating a market caught between uncertainty and optimism.
The one-hour chart for Bitcoin indicates a modest recovery from the $81,463 level, as buyers work to push the price towards the resistance zone of $88,000 to $89,500. While the $84,000 to $85,000 support range shows strong demand, a drop below it may signal renewed selling pressure. The momentum oscillator suggests bullish intent, yet the moving average convergence divergence (MACD) remains in bearish territory, casting doubts on the sustainability of this rally.
A deeper look at the four-hour chart reveals that Bitcoin has faced significant downward pressure, although it shows signs of resilience after bouncing back from a low of $78,000. The price has stabilized above $85,000, marking a potential pivot point for further upward movement. The $90,000 to $92,000 resistance zone is critical, as previous attempts to breach it have met seller resistance. The average directional index (ADX), currently at 40, suggests limited trend strength, while the commodity channel index (CCI) sits neutrally at -93.
On the daily chart, Bitcoin’s recent downturn from its all-time high of $109,356 to $78,197 establishes a bearish context. Short-term moving averages imply caution, with the 10-EMA at $89,051, the 20-EMA at $91,471, and the 50-EMA at $94,594. Conversely, the 200-EMA ($85,734) and the 200-SMA ($82,589) provide encouragement for long-term investors, considering the current market conditions as a potential entry point.
Indicators reflect market indecision, with the relative strength index (RSI) at 42 and the awesome oscillator at -8,591, indicating a neutral stance, while the Stochastic sits at 52, not signaling any extremes. This environment of uncertainty requires traders to exercise caution and await clearer signals before making trades.
Bitcoin’s immediate trajectory hinges on its ability to remain above the $85,000 level. A significant movement past $90,000 could lead to a test of the $95,000 to $100,000 range. However, a failure to hold support could result in a decline toward $81,000 or lower. Engaged traders should closely monitor volume changes and critical price levels during this market oscillation.
In summary, Bitcoin is attempting to sustain its recovery, aiming to break the $90,000 barrier, which, if achieved, could signal further upward movement. However, the prevailing downtrend persists, with significant resistance and support levels that require careful monitoring. Traders are advised to maintain vigilance regarding volume trends and key thresholds to better navigate the current market landscape. The balance of bullish and bearish influences suggests that patience and strategic observation are essential for trading in this environment.
Original Source: news.bitcoin.com
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