Can Bitcoin Price Rally to $90K? Key Levels Traders Must Watch
Key Insights:
- Bitcoin price holds the 50-week EMA, while reclaiming the weekly MA opens $88,000–$90,000.
- The daily 50- and 100-day MAs crossing echoes 2023, when BTC fell 17% before rallying 546%.
- Spot Bitcoin ETFs recorded $201.81 million in net outflows, adding pressure near resistance.
Bitcoin traded near $78,000 after holding a key weekly exponential moving average. The Bitcoin price now faces resistance that could decide whether the rebound extends toward $90,000. It recently climbed from $63,000 to $79,500 within five days. That rapid advance left the market consolidating beneath several technical barriers.
Meanwhile, traders continue processing Fed Chair Kevin Warsh’s hawkish Jackson Hole speech. Brent crude rose above $90 amid tensions around the Strait of Hormuz. Spot Bitcoin ETFs added caution after recording $201.81 million in net outflows. Against this backdrop, analyst Ted identifies two decisive weekly averages.
Bitcoin Price Holds Weekly Support as Macro Risks Build
The Bitcoin price held its 50-week exponential moving average despite rejection from the 50-week simple moving average. That structure supports the recovery, although buyers still face layered resistance.
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