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Bitcoin is trading around $91,307 above the 200 EMA and above the 21 SMA, showing a positive outlook. BTC is likely to continue gaining value and could reach $93,750 around the 3/8 Murray. We could even expect it to reach last week's high of around $94,700.
A decisive break above $93,750 could accelerate Bitcoin's bullish cycle, and it could reach the 4/8 Murray around $96,750.
Conversely, with a drop below the psychological level of $90,000, Bitcoin could reach $87,500 and even the 1/8 Murray around $81,250.
On the H4 chart, we see a symmetrical triangle pattern. If the price of Bitcoin consolidates above this pattern, the outlook could be positive. If the instrument retreats and falls below the symmetrical triangle pattern, we could expect a bearish acceleration towards the 2/8 Murray.
The Eagle indicator is in a neutral zone, giving a slightly positive signal, so we will wait for the price to confirm whether it continues to rise above $91,307 or above $90,000.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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