Bitcoin Price Could Reach $90,000 If It Breaks This Level
Bitcoin maintains its low price and has failed to regain $90,000. For months, bears drove Bitcoin from over $100,000 down below $80,000 before the rebound to $83,000. These events have investors wondering whether the bull run is finished. The top cryptocurrency may yet relaunch the bull market.
After falling over 20% from its all-time high, crypto expert RLinda on TradingView said Bitcoin is showing indications of recovery. These bullish trends do not indicate a break in the downtrend, as the cryptocurrency still has to retake important levels before a complete breakout can be verified.
Bitcoin has strengthened after recovering $80,000. The expert attributed this strength to localized index growth and Fed conversations and anticipation of reduced interest rates. This is happening amid a severe trade battle between the US and China that has caused crypto market collapses.
The latest rebound has put Bitcoin at a key point that might define its future move. The cryptocurrency must overcome $86,190 barrier to cement the rebound, particularly for bulls.
The crypto researcher said BTC is consolidating over $86,190 after breaking the declining pattern. Thus, if Bitcoin breaks this barrier, it will rise higher.
After defeat, $88,800 is the next significant obstacle. This means bulls have a long way to go before regaining $90,000.
Downside May Last
Bitcoin investors have optimism over $86,190, but if resistance is not broken, the price may fall lower. If bears can fight back the price, support levels fall.
The crypto researcher reckons $83,170 is the first support from current levels. After this milestone, $78,170 is the next key support below $80,000. This would lower it to March 2025 levels.
“But, regarding 88800 we will have to watch the price reaction,” RLinda remarked. “A sharp approach for primary level testing may result in a false breakout and correction.”
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