Bitcoin Tests Critical Resistance Level: What's Next?

FenzoFx—Bitcoin is testing the $88,650 resistance, a level it has rejected more than three times. The Stochastic and RSI 14 indicators remain in overbought territory, indicating short-term overvaluation. Entering the market at this price is not recommended.

If BTC/USD stays below $88,650, a consolidation phase may follow, with potential dips to $88,140 and $82,810.

Bullish Scenario

The bearish outlook is invalidated if BTC closes above $88,650, potentially resuming the uptrend toward $90,000.