- Bitcoin surged past $86.8K, but resistance at $89K-$89.7K could trigger a pullback before testing $90.5K.
- Traders should watch for volatility in this range, as a breakout could push BTC toward $94.3K.
Bitcoin’s [BTC] bullish momentum continues, as the cryptocurrency soared past the key $86.8K resistance level. Now, traders and investors are watching the next crucial price zones, with the $90K mark presenting a major test for the bulls.
Also read: Bitcoin vs. Gold: Which is the Ultimate Store of Value?
Bitcoin’s Short-Term Outlook: Bullish, But Cautious
Over the past week, BTC has gained nearly 7%, climbing from $81.1K to $86.8K. This price movement aligns with increased capital inflows, as reflected in the Chaikin Money Flow (CMF) indicator, which sits at a bullish +0.16. Meanwhile, the On-Balance Volume (OBV) is gradually rising, further supporting the uptrend.
Despite this bullish structure, Bitcoin is approaching a high-liquidity resistance zone. The price range between $88.9K and $89.7K could see heightened volatility, making it a key area for traders to watch. A breakout above this range could push BTC toward its next major resistance at $90.5K.
Resistance and Reversal Zones to Watch
Bitcoin has been trading within a wide range of $79.2K to $94.3K since late February. The mid-range resistance of $86.8K was broken on March 24, triggering a brief pullback before resuming upward momentum. However, data from Coinglass highlights potential selling pressure around $89K-$89.7K.
Traders should be cautious, as this range could act as a reversal zone. Profit-taking from short-term holders might slow Bitcoin’s ascent before it can challenge the psychological $90K mark. If BTC breaks $90.5K, the next target would be $94.3K—its range high.
Will Bitcoin Hit $90.5K Soon?
If buying pressure remains strong, BTC could climb toward $90.5K in the coming days. However, a rejection in the $89K-$89.7K zone might lead to a temporary dip, with support forming around $86.8K.
For swing traders, securing profits near resistance levels may be a wise strategy. Meanwhile, long-term investors remain optimistic, with Bitcoin’s realized price continuing to rise—a sign that HODLers are still in profit and confident in BTC’s long-term growth.
Bitcoin’s next moves depend on whether the bulls can sustain momentum and break through critical resistance levels. Keep an eye on liquidity zones and technical indicators to navigate the market’s next phase.
