$BTC Price Levels Become Determinants of the Next Direction📈📈

At the current price parked around US$89,500, Bitcoin needs to make a daily close above US$91,000 or increase by about 1.79% to get back above the 20-day EMA. This would ease the short-term downward pressure and signal that buyers are starting to regain control of the market.

Risks are getting closer.

If a daily close occurs below US$88,500, about 1% lower, then Bitcoin will fall back below the rising-wedge support. If that happens, lower support targets could be quickly reached.

Bitcoin Price Analysis

Important price levels to watch include US$84,300 as the main one, followed by the wedge projection around US$77,300. If buying by long-term holders continues to weaken and miners keep selling.

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