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Squeeze Incoming? Bitcoin’s $90K Compression Set to Pop Wide Open
This weekend, bitcoin is coasting along between the $89,250 to $90,500 range, giving off “maybe I will, maybe I won’t” vibes as it flirts with a breakout but lacks follow-through. With a market cap north of $1.8 trillion and $53.15 billion in daily volume, it’s attracting attention — but not committing to a clear direction just yet.
Bitcoin Chart Outlook
From the daily chart, bitcoin appears to be dancing between its comfort zone of $88,000 to $96,000 after a hard rejection near $94,000. The asset is cooling off from a high at $107,465 and pulling back into a sideways saunter. This kind of market indecision smells like consolidation, especially with volume tapering off after a spike near the $80,537 bottom — a clear sign that big players bought the dip. However, without renewed buying pressure, bitcoin risks slipping back into its old support levels.
The moving averages (MAs)? Not doing bitcoin any favors right now. Every major exponential and simple moving average — from 10-day through 200-day — is firmly in the “downward drag” category. The 10-day exponential moving average (EMA) and simple moving average (SMA) hover around $90,986 and $90,968 respectively, slightly above the current price, adding pressure. As for the 200-day EMA and SMA at $103,348 and $108,667, bitcoin would need wings to reach those levels right now.
Bottom line: Bitcoin is boxed in, consolidating just above $90,000 with neither bulls nor bears seizing the narrative. The charts are hinting at a breakout — or breakdown — but haven’t RSVP’d to either direction. It’s a waiting game, and the next big candle might just be the one to break the stalemate.
Bull Verdict:
If bitcoin maintains its grip above $90,000 and volume supports a breakout past $91,000–$92,500, momentum could tilt upward toward the $94,000–$96,000 resistance zone. Watch for a confirmed move backed by rising volume and a strengthening moving average convergence divergence (MACD) — the only oscillator currently flashing optimism.
Bear Verdict:
Should bitcoin lose footing below $89,000 with increased selling volume, the next stop could be $88,000 — and possibly a retest of $80,500 support if bearish momentum accelerates. With all major moving averages leaning against the price and momentum in decline, the downside path offers less resistance than bulls might like to admit.
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