Bitcoin is preparing for a short-term reversal above $90,000 as bulls tighten their grip following the previous week’s volatility.
The Relative Strength Index (RSI) has reached 42 on the daily chart as bulls are attempting to defend crucial support levels.
The Moving Average Convergence Divergence (MACD) indicator stays below the signal line, which confirms the current downward trend.
Bitcoin remains below key Exponential Moving Averages (EMAs), the 50-day EMA at $91,470, 100-day EMA at $94,933 and 200-day EMA at $98,628, establishing a bearish market trend.
Investors will adopt a defensive approach if the price falls below $88,000, creating supply pressure that could drive BTC to its November low at $80,600.