Bitcoin is trading around $91,750, rebounding after reaching a low of $88,000 near the important -2/8 Murray support level.
Bitcoin could consolidate around $91,000 or $90,000, which could set the stage for a strong technical rebound during which BTC could reach $97,000 in the coming days and even the psychological level of $100,000.
On the contrary, if Bitcoin falls towards the support level of $87,500, this support could give BTC a strong technical rebound, and we could look for opportunities to open long positions with targets at $93,750 and finally at $100,000.
The Eagle indicator shows that Bitcoin is oversold, so we will look for opportunities to buy whenever the price makes a technical correction.
A decisive breakout of the downtrend channel and consolidation above $93,750 could be a clear signal to open long positions in the short term.
