Bitcoin’s time spent trading below $90,000 is mere consolidation, not a sign that the bull market is ending.
Bitcoin (BTC) delivered its best weekly performance in over two months, climbing 4.24% to an intra-day high at $88,804. BTC also reclaimed a bullish stance on the charts, closing above the daily chart’s 200-day exponential moving average (EMA).
Bitcoin 1-day chart. Source: Cointelegraph/TradingView
With a weekly close above $84,600, the likelihood of BTC testing $90,000 increases. However, BTC price must overcome the descending resistance level to make a sustainable move at the range highs.
