Market situation and resistance breakout potential
BTC has surpassed the resistance level of $85,000 and is heading towards the range of $88,000–$91,000. The current bullish momentum is supported by:
Signals of interest rate cuts from the U.S. Federal Reserve (Fed), increasing the attractiveness of risk assets like Bitcoin.
Increased interest from financial institutions, including companies like Brazil's Meliuz considering adding BTC to their treasury.
Positive technical patterns, with a "bullish engulfing" candlestick pattern on the weekly timeframe, indicating that the upward trend may continue.
Short-term forecast
Analysts predict BTC could reach $90,000–$95,000 in April, provided that selling pressure decreases and demand continues to rise.
Conclusion
With the current momentum, BTC is likely to continue surpassing the next resistance levels. However, investors should closely monitor macroeconomic and technical factors to make appropriate decisions.
This is the analysis I have compiled; if you find it helpful, please give me a like 😅
