Bitcoin (BTC) Price Today: BTC Tests $98K Resistance as Hidden Bullish Divergences Hint at $107K Corrective Bounce
Bitcoin is testing $98K resistance, with hidden bullish divergences suggesting a potential corrective bounce toward $107K amidst market uncertainty.Summary
Bitcoin (BTC) is trading near $95,000 after a 25% pullback from its October high, consolidating in a range that analysts deem a "no-trade zone" pending a move above $98,000 resistance or a drop toward $90,000 support. Technical indicators present a mixed picture: hidden bullish divergences on RSI, MACD, and Stochastics suggest potential for a corrective rally up to $107,000, yet an approaching daily death cross and increased whale activity moving BTC to exchanges signal caution. On-chain data shows support near JPMorgan's estimated $94,000 production cost floor, while rising USDT dominance reflects a risk-off sentiment. Key levels for traders are $90,500 support and $98,000 resistance, with a break below support potentially leading to deeper corrections toward $69,000–$70,000.
(Source：Brave New Coin)