Bitcoin’s $90K Fiasco: Will It Bounce Back or Crash?

by

Monday’s $BTC breakout, a tantalizing glimpse of $90,000, was met with the cold shoulder of resistance. 🚧 A masterclass in indecision, the price fell back down like a diva refusing to take a bow. 🎭 Is this the start of a bullish revival, or just a prelude to a $70,000 encore? 📉

$BTC price rejects from strong $90,000 resistance

When the $BTC price dared to breach the major trendline, it seemed the bottoming phase was finally over. 🤭 But alas, the $90,000 wall proved too formidable. The price recoiled like a startled cat, plummeting back to the ascending trendline. 🧨 A retest of the downtrend line? A mere formality, darling. 🤭

Not content with this dramatic exit, the price descended further, testing the downtrend line with the flair of a seasoned actor. 🎭 While traders sighed, the TA crowd clapped politely. A retest, though not a rally, is still a plot twist worth noting. 📈

Yet, the bottoming process may not be done. $93,000 to the upside, $86,000 to the downside-this range has been the financial equivalent of a dramatic pause. 🎭 A few fakeouts here and there, but nothing a good cup of tea can’t fix. 🍵

Positives in the daily chart

Though the $BTC price lingers beneath the major trendline, the daily chart winks with a bullish smirk. 🤭 The broken downtrend line? A triumph! 🎉 While the price has dipped below the trendline before, this time feels different-like a slow-burning fuse. 🔥

The RSI, that ever-loyal sidekick, has tested its downtrend line and bounced back with the energy of a caffeinated squirrel. 🐿️ If the bulls rally on Tuesday, expect the price to follow suit. 📈

Bottoming process is playing out

The weekly chart, ever the dramatic performer, begins to lean towards the bulls. 🎭 A weak breakout, yes, but a breakout nonetheless. The $BTC price now hovers above the ascending trendline, ready to use it as a springboard. 🪜

The MACD, that slow-moving supertanker, shows a softer decline. 🚢 Its histogram bars shrink like a shy guest at a party. The bottoming pattern? A glacial dance, but the price is finally stirring. 🧊

Analysts whisper that liquidity will soon fuel the rally. 🌊 Until then, the charts hint at a coming upside-though it may take a while to gather steam. 🚀 A financial equivalent of a slow burn, but oh, the drama! 🎭

Read More

2025-12-30 13:55