Analysis: "BTC Expected to Retest $87,500"

According to Cointelegraph, Keith Alan, co-founder of cryptocurrency market data platform MaterialIndicator, predicted that BTC "is likely to retest its yearly price of $87,500." He explained, "Currently, it is attempting to defend the $92,000 support level, but whales are hoping to test lower support levels." Despite the possibility of a golden cross on the daily chart, the analysis suggests that short signals are dominant on medium- to long-term timeframes. The report explained, "For a true rebound, the one-week RSI must exceed 41/100 and the weekly closing price must exceed the 50-week moving average of $101,500."