Can BTC Bulls Defend 89K and Target New Highs?

Bitcoin's price has previously rebounded from the key support level at 91.5K, signaling strength in the bullish trend. The TSI indicator is currently at a very low level, but as long as the 89K support remains intact, this suggests the bullish momentum could continue. For a stronger confirmation of an upward move, a break of the previous swing high near 94.5K would be crucial, along with a bullish TSI crossover and potentially a new Signal Builder buy signal.

The Point of Control (POC) for this range is at 97.5K, making it a short-term target for bulls. Breaking above this level could pave the way for Bitcoin to challenge its previous all-time highs. However, if Bitcoin fails to hold the 89K support, the trend may reverse to the downside, warranting caution.

In summary: Bitcoin is at a critical juncture. A bullish continuation above 94.5K opens the door to 97.5K, while a break below 89K could signal the start of a bearish trend.

👨🏻‍💻💭 Will Bitcoin break above 94.5K and hit 97.5K, or are we heading back to 89K? Share your thoughts below!
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