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Bitcoin faces the 'barrier' of $89,000 – Breakthrough or correction? Bitcoin price is approaching the extremely important resistance area of $88,000–$89,000 – a place that has often caused strong market reversals in the past. This time, will history repeat itself?
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The recent market momentum is quite clear: - BTC has recovered over 21% from the April low ($74,800), surpassing many medium-term support levels. - The current price structure shows a 'compression' under resistance – higher lows, narrowing volatility range. This is often a sign of a major breakout about to happen.
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Two main scenarios are being closely monitored by analysts:
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Bullish scenario: - If BTC decisively breaks the $89,000 mark and successfully retests this area as support, it is likely to move towards the next target at $95,000 – a new potential resistance area. - Surpassing $95,000, the price could even extend to the $97,350–$98,880 range, or the psychological level of $100,000 in the medium term.
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Bearish/corrective scenario: - If buying pressure is not strong enough to break through the $88,000–$89,000 area, a correction towards nearby support levels around $86,500–$85,150 is entirely possible. - In the case of increased selling pressure, the price may revisit deeper into the $84,000–$85,000 range.
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Factors supporting the current trend: - The RSI and MACD indicators remain positive, not showing overbought signals. - Capital continues to flow into Bitcoin ETFs, reinforcing the upward momentum. - Economic-political volatility in the U.S. increases the role of BTC as a safe haven.
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Is this the time to 'shake off' or 'accelerate'? Confirmation signals around the $89,000 mark will be the key to opening the door to $95,000 – or signaling a new correction is approaching.
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Which trend are you leaning towards? Have you prepared an action strategy for your portfolio?
