Bitcoin Price Breaks Downtrend Line, $92,000 Resistance Level Becomes Key Barrier
Powered by ChatGPTBitcoin ($BTC) has recently experienced a price increase, breaking through a one-month downward trendline resistance, with a 4.5% rise over three days. The US Dollar Index (DXY) has fallen to its lowest level since 2022, driving the rise in Bitcoin prices. Despite gold prices reaching an all-time high, Bitcoin has not performed as a safe-haven asset. The proposed Bitcoin Strategic Reserve Act in Texas, if passed, would make the state the first in the US to officially hold Bitcoin assets. Technical analysis shows strengthening bullish momentum for Bitcoin; if the daily closing price exceeds $87,500, it will form a bullish structure, indicating a potential long-term uptrend. However, $92,000 remains a strong resistance level, and a 3-month liquidation heatmap indicates a possible pullback in the $89,200 to $91,000 range. Bitcoin's price has decoupled from traditional markets, but traders should remain cautious of volatility and potential correction risks.