Bitcoin Price Attempts a Comeback—Is a Recovery Rally on the Horizon?

The article discusses the recent recovery in Bitcoin price, starting from the $82,000 zone and currently trading above $90,000. The price is above the 100 hourly Simple moving average and has broken a bearish trend line with resistance at $90,000.

If Bitcoin fails to clear the $95,000 resistance zone, it could start another decline. Immediate support levels are at $88,000 and $86,200, with further support at $85,000 and $82,000. The main support sits at $80,000.

On the upside, key resistance levels are at $92,000 and $93,500. A close above $93,500 could send the price higher towards $95,000 and potentially $98,000. Technical indicators show the MACD gaining pace in the bullish zone and the RSI for BTC/USD is above the 50 level.

Overall, Bitcoin is currently in a recovery phase with potential for further upside if key resistance levels are breached.