BTC Bulls Defend $90K as Hash Ribbons Signal Long-Term Buy Opportunity

Bitcoin (BTC) indicators suggest a potential rally, as the Hash Ribbons flashed a "buy" signal, historically marking long-term buying opportunities following miner capitulation recovery. Researchers noted this is one of the largest Hash Ribbons signals on record, often preceding significant price increases.

Furthermore, the Fear and Greed Index showed a "golden cross," signaling improving sentiment and a potential rally after prolonged fear phases. However, the immediate focus is on the crucial $90,000 support level. Bulls must defend this psychological and technical zone (coinciding with the 200-period moving average on the 4-hour chart) to maintain control.

If Bitcoin breaks and closes below $90,000 on the weekly chart, momentum could turn negative, potentially leading to a drop toward $80,000–$85,000, with lower support at $74,500 and $68,000.

(Source：Cointelegraph)