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Bitcoin Eyes $88,800 Resistance Before Targeting $100K
Bitcoin surged to $84,000 on Wednesday, marking its largest intraday gain since mid-March with an 8% increase. The rally followed former U.S. President Donald Trump’s decision to suspend global tariffs for 90 days, which triggered strong buying momentum in the crypto market.
The broader market also responded positively. Ethereum, XRP, and Dogecoin all posted double-digit gains as investor sentiment improved. The Bitcoin price rose 13%, climbing from $74,700 to $83,600 following the policy shift.
Adding to market optimism, BlackRock CEO Larry Fink on Monday referred to the tariff-driven market dip as a “buying opportunity,” although he cautioned that markets could still move lower. “I see it more as a buying opportunity than a selling opportunity, but that doesn’t mean we can’t go down further,” Fink said. He also projected that the tariffs, had they been implemented, could have reduced global market valuations by as much as 20%.
Despite the recent rally, Bitcoin is encountering resistance below $84,000. Technical indicators suggest a potential sell-wall near $85,000 as early traders may look to take profits. On the 12-hour BTC/USDT chart, the upper Keltner channel band signals significant resistance around $88,183—aligning with the April 2 high, when Trump initially announced the broad tariff measures.
Historically, such levels have proven to be psychological resistance zones. Investors who entered positions during the previous downtrend may choose to exit once break-even levels are reached, potentially creating supply pressure.
Looking ahead, the $88,800 resistance remains a key barrier. A decisive breakout above this level is critical for Bitcoin to maintain its bullish trajectory and target the $100,000 milestone. Conversely, failure to hold support above $80,000 could trigger a correction, potentially driving prices down to the $73,500 range.
