Why Bitcoin’s Next Target Could Be $93,000
Photo: Coinpedia
Bitcoin is trading at around $81K after inflationary data spooked investors, triggered long liquidations, and broke the initial support zone. Analysis shows an ascending channel setup, with potential for upward movement to $93,000. The $83K-$84K resistance zone is the biggest between the $80K and $104K prices. Bitcoin (BTC) is down 2% in the last 24hours, trading at $81,698 after US inflation came in hot and raised the odds of another Fed rate hike. Compounding the decline is a cascade of long liquidations ($63.17 million in the past day) and a break below the $82,000 – $83,000 support zone.
Source: Coinpedia
