Bitcoin (BTC) has been consolidating above the $90,000 support zone for the last ten days, reaching its latest all-time high (ATH) of $99,645 about a week ago. Since then, the cryptocurrency has closed below a short-term downtrend line, failing to break above it and potentially risking a drop to two-week lows.
Bitcoin Faces ‘Moment Of Truth’
Bitcoin is having one of the best months in the cryptocurrency’s recent history, jumping over 47% from its monthly opening to its latest ATH. Since November 18, BTC has been moving within the $90,000-$99,000 price range, holding above the lowest range zone despite the recent retraces.
After surpassing the $99,000 level twice, the ongoing rally has fueled investors’ optimism about achieving the potential run to the $100,000 milestone this month. However, the flagship crypto has been facing rejection from a Lower High resistance line for the last week.
Crypto analyst Rekt Capital pointed out that Bitcoin has been closing daily be
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