Banmu Xia: The Bitcoin moving average convergence forms a key resistance; if broken, it will be a critical bullish signal

Chinese crypto analyst Banmuxia released an analysis video today, stating that although Bitcoin has fallen below $90,000, the trend is still intact. Multiple moving averages on the 4-hour chart have converged to form a key resistance (around the $90,500 range), and a breakout would signal a crucial bullish indication.

Additionally, Banmuxia has lowered the take-profit levels to $96,200, $101,600, $110,000, and $112,500 (previously "$98,000, $103,300, and $112,500, with dynamic adjustments"), and reiterated that, in the context of improved liquidity, assets like Bitcoin are still likely to rise.