Will Bitcoin (BTC) Break $90,000? Check out the Analysis!

Jakarta, Pintu News – Bitcoin (BTC) continues to show strong support above the $85,500 zone. With a positive trend forming, many are wondering if Bitcoin (BTC) will be able to break the $88,000 resistance and continue its rise towards $90,000.

Strong Support Above $85,500

Bitcoin (BTC) managed to maintain its position above the $85,500 level, creating a strong basis for further potential gains. After moving up past the $86,200 resistance, buyers managed to push the price past the $87,000 level. This rise was also supported by a 50% recovery from the last decline, which started from a high of $88,259 to a low of $85,853.

Currently, Bitcoin (BTC) price is above $86,500 and the 100-hour simple moving average. The immediate resistance is near $87,700, which is also the 76.4% of the last downside recovery. If it is able to break through, this could be a strong bullish signal for investors.

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Critical Resistance and Upside Potential

The first major resistance that Bitcoin (BTC) has to face is near $88,000. If crossed successfully, the next resistance is $88,200, where there is a bearish trend line on the hourly chart of the BTC/USD pair. A close above this level could trigger further gains towards $89,500, and possibly even reach $90,000 or $90,500.

This increase will not only strengthen Bitcoin’s (BTC) position in the market, but could also attract more investors looking for assets with high growth potential. This condition is also supported by the MACD indicator which shows an increase in bullish momentum and the RSI which is above the 50 level.

Possible Downside if Failure to Break

However, if Bitcoin (BTC) fails to break the $88,200 resistance zone, there is a possibility that the price will experience a new decline. Immediate support is near $87,000, with the next major support at $86,500. If the decline continues, the price could return to the $85,500 zone, and if the selling pressure continues, the next critical support is at $85,000.

A further decline might test the key support at $84,500, which could be a critical point for Bitcoin (BTC) in maintaining its long-term bullish trend. Investors and analysts should monitor technical indicators to gain further insight into potential price movements.

Conclusion

With strong support and potential resistance to be tested, the Bitcoin (BTC) market is currently at a tipping point. Investment decisions should be based on careful technical analysis and continuous monitoring of market indicators. The subsequent rise or fall will largely depend on Bitcoin’s (BTC) ability to break or hold above the key levels that have been identified.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Price Finds Support at $85,500. Accessed on March 28, 2025
• Featured Image: Generated by AI