After dropping nearly 5% yesterday, Bitcoin has rebounded sharply today with a gain of about 4.5%. The price is currently up $3,892 at $90,200, after reaching a session high of $90,873. Today’s low at $86,190 followed yesterday’s deeper dip to $83,814 before buyers stepped in.
On the hourly chart—where the technicals turn quickest—the rebound has pushed the price back above the converged 100- and 200-hour moving averages at $89,108 and $89,253. Holding above those levels keeps the short-term bias tilted firmly toward the buyers.
The next upside target sits at the swing area from the November 20 and November 28 highs near $93,091. A break above that zone would open the door toward the 38.2% retracement of the October 27 decline, which comes in at $94,229. The
