Bitcoin · Cointelegraph
Bitcoin eyes a rally toward $92,630 as BTC defends key long-term support while the Nasdaq flashes deeper correction risks
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
Bitcoin (BTC) traders said that BTC holding above the $60,000 psychological support over the weekend was important as it recovered 6.5% from a local low near $59,100 to an intraday high of around $62,950 on Sunday.
Key facts
- In other words, traders may view the dip below $60,000 as a shakeout if BTC holds the 200-week SMA, with the 50-week SMA (red) near $92,630 becoming the next major upside target
- Bitcoin (BTC) traders said that BTC holding above the $60,000 psychological support over the weekend was important as it recovered 6.5% from a local low near $59,100 to an intraday high
- In a Sunday post, the analyst highlighted Bitcoin holding strong above its 200-week simple moving average (200-week SMA, the blue line) at around $61,880
- Every major Nasdaq weekly RSI drop from above 70 (overbought) to below 70 since 2021 has led the index back toward its 20-week moving average
Summary
Bitcoin eyes a rally toward $92,630 as BTC defends key long-term support while the Nasdaq flashes deeper correction risks. BTC is eyeing a rally toward $92,630 if it continues to hold above a key moving-average support. Nasdaq technicals hint at a potential decline of over 10% in the short term. Bitcoin's rebound stood out as the tech-heavy Nasdaq Composite (IXIC) plunged more than 4% on Friday, its steepest one-day drop since April 2025.