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BTC continues to receive substantial support around $90,000, triggering a slight rebound.
However, the current bullish momentum seems insufficient to trigger a new round of Rebound to set a new all-time high, indicating a possible consolidation within this area in the short term.
Daily line chart
After a period of decline, BTC received strong support in the key area of $90,000, highlighting the presence of buyers at this level. The support is consistent with the middle threshold of its multi-year uptrend channel, enhancing its importance.
Despite the slight increase in buying pressure, leading to a small Rebound, the current momentum is still sluggish, indicating that consolidation near the support area will continue.