"Last week was a bit of a roller coaster ride, while bears kicked the price down to the $84,000 support level early in the week, bulls stepped in down there to rally the price up to the $94,000 resistance level. From there, the price dropped once again, just below $88,000 on Sunday morning, before seeing a small rally to close the week out at $90,429."
"Key Support and Resistance Levels Now Bitcoin closed the week as a doji candle on Sunday, indicating indecision between buyers and sellers. The short-term outlook is slightly in the bulls' favor, who will look to conquer the $94,000 resistance level. If they can establish this level as support, they will look to $101,000 as the next major resistance level, with sellers likely to begin slowing momentum down above $96,000."
Bitcoin traded between $84,000 support and $94,000 resistance last week, dipping to just under $88,000 before closing at $90,429. Bulls must clear and sustain $94,000 to pursue $101,000, while momentum is expected to slow above $96,000 and heavy resistance lies between $107,000 and $110,000. Immediate support levels include $87,200 and $84,000, with deeper support zones at $72,000–$68,000 and a 0.618 Fibonacci retracement at $57,700. Short-term momentum slightly favors bulls, and the daily RSI is making higher highs off the 13 SMA. The FOMC meeting is a key catalyst this week.
Read at Bitcoin Magazine
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