BTC Flashes Bullish Divergence on CCI: $120K Target in Sight as $90K Becomes Launchpad

Chart pattern - Bullish divergence in CCI(50)- Both 4-hour and Daily charts.

The CCI line crosses back over the -100 level from the oversold area, confirming that the upward movement is actually taking shape.

Technical Analysis: Key Levels to Watch for BTC/USD

BTC/USD recovered after a minor decline below $90000. The pair hits an intraday high of $93753 and is currently trading around $93434.

 It trades below short-term (34-EMA and 55-EMA) and long-term (200 and 365-EMA) moving averages on the 4-hour chart. Minor support is around $92800; breaking below this would drag the pair down to $89000/$86500/$80000. Immediate resistance is around $96000 indicates that closing above this level could lead to targets $10000/$105900/$108000/$115000/$120000/$126500.

Investment Strategy: Opportunities for Traders

Indicators (4-hour chart).

CCI(50)- Bearish

Directional movement index - Neutral

It is good to buy on dips around $92000 with a stop-loss set at $86500 for a TP of $115000/$120000.