What’s Next for Bitcoin After Cryptocurrency Falls Below $90K? Key Levels to Watch | Global News Avenue

Bitcoin (btcusd) Today is below $90,000, continuing a slide from last month’s record height, Emotional pressure on investors due to economic uncertainty.

Bitcoin’s price is below $86,000 the day before the recent recovery of about $89,000, under pressure from reports from the Trump administration Mexico and Canada tariffs will continue as planned. Investors often view tariffs as inflation, which could undermine the possibility Reduced interest rates This year, this move will make no profits risk Assets like Bitcoin.

Looking ahead, March is Historically, Bitcoin’s MonthsAs cryptocurrencies recorded uniform positive and negative returns between 2013 and last year, according to the Crypto Analytics website. Small shop. Bitcoin has fallen 5% since the beginning of the year, but it has been growing about 25% since the U.S. presidential election, which is hopeful that the Trump White House and crypto-backed Congress will adopt a policy of supporting asset classes.

Below, we carefully study the Bitcoin chart and use it Technical Analysis Identify key price levels worth paying attention to.

Double top domain fault

As two different peaks formed between December and January, the price of Bitcoin continued to drop, creating a textbook Double top Patterns in the process. And, decisive break down Below Neck Above average volume The composition was confirmed in Tuesday’s trade fair.

It is also worth pointing out that with the height of cryptocurrencies last month, Relative Strength Index (RSI) Forge a relatively shallow peak to signal bearish Differencesa technical event that shows the weakening of price momentum.

However, recent sales also push RSI metrics into Oversold Territory, increasing the possibility of recent escalation.

Let’s identify a few crucial ones Support and resist Investors may be watching levels on the Bitcoin chart.

Key support levels to watch

Further sales under the double-layer neckline may initially drop to the $80,400 level. This area on the chart may provide support nearby 200-day moving average (MA) and the closing and opening prices of two key bars formed during the impulse movement in mid-November.

The key support level for the next view is about $74,000. Investors can view the area as a buying opportunity given its proximity Horizontal line Link multiple prominent peak On the chart between March and October last year.

Key resistance level monitoring

Recovery rates above the double-layer neckline could cause the cryptocurrency to climb to $98,500, a location that could provide overhead resistance near respected people 50-day master’s degreeCurrently, a series of similar trading levels on the chart can be traced back to late November.

Finally, the proximity above the area could result in a retest of the $106,000 level. Investors owned average May be seen Make a profit Here, near the two peaks of the double-layer pattern.

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As of the date of writing this article, the author does not own any of the above securities.