What's up, family! Buckle up because Bitcoin just broke that psychological barrier of $94,000 and the atmosphere in the charts got tenser than Christmas dinner with the mother-in-law. 📉🔥
Look, here's the thing: our reigning currency couldn't keep up the pace and it went into free fall, even dropping below $92,000. Right now, the price is trying to breathe, consolidating losses after hitting a low of $91,866. For those following moving averages, the outlook tells us that we are below the average of the last 100 hours, which in simple terms means that selling pressure is winning the battle for now. 🥊
There is a well-defined bearish trend line that is acting as a ceiling at $94,600. If we want to see Bitcoin shaking off the dust, it first needs to break strongly above $92,800 and, above all, close above $93,650. If it achieves that, maybe we can breathe and look for $95,000 again. But be careful, as technical indicators like the MACD and the RSI are screaming that the momentum is still on the side of those who want to see the price lower. ⚠️
What happens if it doesn't hold? If we lose the support at $91,800, get ready because the next important floor is at $90,000. That is the critical level; if Bitcoin slips from there, the drop could accelerate and put everyone to the test. It is a moment of patience and careful observation of the movements before jumping into the void, because the market is sending maximum alert signals. 🛑
In an ecosystem where Bitcoin sets the pace for our portfolios, are we facing a simple bump to gain momentum or is this the signal that the market needs a much deeper rest before continuing to rise? $BTC
