Banmuxia: Bitcoin moving averages converge to form key resistance; a breakout would be a crucial bullish signal

ChainCatcher news, Chinese crypto analyst Banmuxia released an analysis video today, stating that although bitcoin has fallen below $90,000, the trend remains intact. Multiple moving averages on the 4-hour chart are converging to form a key resistance (around the $90,500 range), and a breakout would be a critical bullish signal.

In addition, Banmuxia has lowered the take-profit levels to $96,200, $101,600, $110,000, and $112,500 (previously “$98,000, $103,300, and $112,500, with dynamic adjustment”), and once again emphasized that against the backdrop of improved liquidity, assets such as bitcoin are still highly likely to rise.