Analyst: Bitcoin Retests Key Resistance Level, Breaking $90,000 May Trigger a Double Blow to Technicals and Psychology

On May 5th, according to CoinDesk, Alex Kuptsikevich, an analyst at FxPro, stated, "We have reverted to a crucial resistance area that previously served as support between December of last year and February of this year. The subsequent downside targets are $92,500 and $89,000. If Bitcoin drops below $90,000, it will be a setback both technically and psychologically, and it will also breach below the 200-day moving average."