Bitcoin Faces Critical $92K Resistance—Breakout or Further Decline Ahead?
In his analysis, Bennett notes that Bitcoin’s failure to close above this threshold on a monthly basis could signal potential for a deeper correction.
Bennett emphasizes that Bitcoin’s inability to reclaim the $92,000 support level, especially after closing below it in February, warrants caution on a macro level. He suggests that unless BTC manages to close March above this key level, the cryptocurrency remains vulnerable to further declines.
Despite recent rebounds, Bennett advises vigilance, particularly if Bitcoin cannot sustain levels above $92,000, as this could lead to a continuation of the bearish trend observed since February.
As of now, Bitcoin is trading around $83,222, reflecting a slight decrease of 0.044% from the previous close. Investors are advised to monitor these critical levels closely, as they may dictate Bitcoin’s price trajectory in the coming weeks.
Editorial Team
Reporter at Coindoo
