Bitcoin Rebounds 3.1% as Correction Shows Signs of Easing

Bitcoin advanced 3.1% in early American trading on Wednesday, recovering from a correction low of 90,732 following a four-day pullback from its record high of 99,807.

The rebound gained traction as the decline found solid support above the key 90K psychological level, bolstered by the rising 20-day moving average. This development suggests that the corrective phase may be nearing completion.

Key Levels and Technical Outlook
– Wednesday’s rally has retraced over 38.2% of the 99,807–90,732 drop, approaching the critical 95K resistance, strengthened by the 10-day moving average.
– A break above 95K and the 50% Fibonacci retracement at 95,270 would reinforce the short-term bullish structure, paving the way for a stronger recovery.
– Renewed upward momentum on the daily chart supports the prospect of another attempt to breach the highly anticipated 100K milestone, though resistance at this level suggests that further consolidation might precede a decisive breakout.

Bitcoin’s overall sentiment remains firmly bullish, underpinned by strong support above **90K**. However, thin trading volumes typical of the holiday season could heighten volatility on Thursday, warranting caution for traders.

The broader outlook suggests the current recovery could set the stage for another push toward the symbolic 100K level, with short-term pullbacks likely seen as buying opportunities.

Res: 95000; 95270; 96340; 97665
Sup: 93169; 91501; 90732; 90000