Bitcoin traders warned that the BTC price rally could stall at USD 90K

The behavior of the BTC price suggests a pullback as Bitcoin market watchers detect strong resistance.

Market Analysis

Bitcoin

BTC

83,965 €

surpassed USD 89,000 on April 22, its highest level since early March, driven by strong cash demand during US trading hours on April 21. However, the recovery faced a serious challenge in surpassing USD 90,000, as selling side liquidity blocked the way.

The Bitcoin price faces strong upward resistance

Data from Cointelegraph Markets Pro and TradingView shows that the price has been steadily moving towards the USD 89,000 level over the past six hours, raising questions about whether the USD 90,000 barrier will finally give way.

"BTC is approaching the large horizontal zone of USD 90,000 to USD 91,000, which constituted the low of the previous range," said popular trader Daan Crypto Trades in a post on April 22 on X.

The trader explained that the price had surpassed the USD 89,000 level by consolidating below it. Notably, the 200-day simple moving average (SMA) is currently just above this level, reinforcing its importance.

Daan Crypto Trades stated that the price needs to surpass these barriers to confirm an upward breakout.

For the price of Bitcoin to exceed USD 91,000 and USD 92,000 is key, says an analyst

Meanwhile, Julio Moreno, head of Research at CryptoQuant, stated that the on-chain realized price of traders, between USD 91,000 and USD 92,000, is the true test for Bitcoin optimists.

According to Moreno, the realized price for traders often acts as resistance when the cryptocurrency market is bearish, as is the case currently

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