BTC RISINGBitcoin's daily chart continues to show strength after a strong bounce from the 200-day moving average, which acted as key support. The price is now consolidating below $91,271, an important resistance level that bulls need to reclaim for further upside momentum.
The recent surge in volume suggests strong buying interest at the lows, reinforcing the idea that the recent dip was met with accumulation rather than panic selling. However, the next major hurdle remains at $94,990, which has previously acted as a key resistance level.
For bulls, the immediate objective is to flip $91,271 into support, which would open the door for a move back toward $94,990. Failure to break above this level could lead to a retest of the 200-day MA, which remains the key downside level to watch.
Overall, the structure has improved, but Bitcoin still needs a daily close above $91,271 to confirm a continuation of the recovery.