To establish any intent of a trend reversal, Bitcoin bulls must force a convincing price breakout above this long-standing diagonal resistance. Other critical indicators are the 200-day Exponential Moving Average (EMA) and 200-day Simple Moving Average (MA), both of which provide an average of the past 200 days’ prices, with the EMA giving more weight to recent prices. The 200-day EMA is important in spotting medium-to-long-term trend changes as it reacts faster to any price change than the 200-day MA, which is a classic long-term indicator.
Related Reading: Solana Price Enters Consolidation Trend Above $130 That Could End In A Breakout Bitcoin Ultimate Resistance At $90,000-$91,000 Despite Bitcoin’s struggles in the $84,000-$86,000 price zone, Daan Crypto has warned that the asset’s ultimate test of a price reversal is at the $90,000-$91,000 price range, which served as a key support in the earlier phase of the bull cycle.
In performing a technical analysis on the current BTC market, Daan Crypto has identified the three resistance factors that have been active in the specified price zone. The first price opposition is a diagonal downtrend line formed by Bitcoin’s consistent lower lows and lower highs amidst the price correction in the past three months.
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