Bitcoin traders predict that the BTC price may stop rising at $90K

BitcoinBTC() surged to its highest level in early March on the 22nd of April, fueled by strong spot trading during US hours on 21st April. However, the recovery faced serious challenges in breaching $90,000. Sell-side liquidity blocked this.

Bitcoin faces tough resistance to the upwards

The Data of Cointelegraph Markets Pro You can also find out more about the following: TradingView The price of the car has steadily moved towards the $90,00 barrier over the past six hours. This raises questions as to whether it will eventually give way.

“BTC is closing in on the big $ 90 K-$91 K horizontal area which acted as the previous range low,” said Daan Crypto trades is a well-known and popular trader who has a recent post (April 22) on X. 

He explained that it appeared as if the price had reached $89,000 while it was still consolidating beneath it. It is important to note that the 200 day simple moving average (SMA), which reinforces this level’s significance, is just above it.

Daan Crypto Trades stated that the price must overcome these obstacles in order for a breakout to be confirmed. 

“Quite a few resistances close by, but a few percentage moves and you’ll break through all of them, and the chart looks pretty great. Bulls know what to do.”

Bitcoin price breaking $91-$92K is key — Analyst

CryptoQuant’s Director of Research Julio Moreno. said Bitcoin bulls will be tested by the price realized on the Bitcoin blockchain between $91,000 to $92,000. 

Related: Bitcoin risks 10%-15% BTC price dip after key rejection near $89K

Moreno says that when Bitcoin’s crypto-market is in a bearish state, traders’ actual prices act as resistance.

The article is not intended to provide investment advice. Risk is inherent in every investment decision and trade. The reader should always do research prior to making a final decision.