Bitcoin Price In Limbo—Consolidating Below $92K Ahead of Next Move

Bitcoin price has started a recovery wave from the $85,000 zone and is currently back above $87,500. However, it may struggle to clear the $92,000 resistance zone. There is a short-term contracting triangle forming with resistance at $89,650 on the hourly chart of the BTC/USD pair. If Bitcoin fails to rise above the $90,000 resistance zone, it could start a fresh decline with support levels at $87,000, $86,200, and $85,000. On the upside, key resistance levels are at $90,000 and $92,000, with potential further gains towards $93,500 and $95,000 if those levels are cleared. Technical indicators show the MACD losing pace in the bullish zone and the RSI for BTC/USD below the 50 level.