Early in the American session, Bitcoin is trading around 97,141 showing recovery after having hit the low of 90,685. Bitcoin is located above the 21 SMA and above 7/8 Murray which makes the outlook positive.
If BTC consolidates above 95,000 in the next few days, it could reach the psychological level of $100,000 and could even reach +1/8Murray around 106,250.
If Bitcoin falls below the key level of $95,000, it is expected to reach the low of $90,000 and could even reach the Murray 6/8 around 87,500.
Bitcoin has found good support around 85,744 (200 EMA) which could be a key level and seen as an opportunity to buy, since technically up to this level, it could mean a correction of more than 14%.
The medium-term outlook for Bitcoin remains bullish. Investors will try to continue buying this cryptocurrency with the aim of reaching $100,000 and even breaking through this barrier.
Our key level is to buy above 95,000 with targets at $100,000 and $106,250.