- Bitcoin is trading just below a key resistance zone, with analysts suggesting a breakout above $85,000–$86,000 could spark a rally toward $90,000.
- While current momentum is promising, low weekend volumes may delay major moves until next week.
Bitcoin (BTC) is once again making headlines as it hovers just below a critical resistance zone. Following a recovery from early April’s dip, traders and analysts are closely watching the $85,000–$86,000 range, speculating whether the world’s largest cryptocurrency is gearing up for its next bullish surge.
A Strong Rebound Sets the Stage
After slipping below $80,000 earlier this month, Bitcoin managed to bounce back, largely driven by a temporary easing of global trade tensions. President Donald Trump’s 90-day suspension of tariffs on over 75 countries helped calm markets, giving Bitcoin the boost it needed to retest the $83,000–$86,000 range. The asset also found support around $78,500, aligning with its four-month downtrend resistance.
Thursday’s price movement showed signs of momentum, as BTC began breaking out of its long-standing downtrend. According to popular analyst Daan Crypto Trades, this could be a pivotal shift. He notes that Bitcoin has struggled at this price point due to resistance from the Daily 200 EMA and MA, calling it “a tough price region to crack.”
Resistance at $90K: The Bull’s Final Barrier
Technical analysts suggest that if Bitcoin can close above the $85,000–$86,000 mark, it may ignite a rally toward the highly anticipated $90,000–$91,000 zone. However, a key challenge remains: the 50-day EMA. Sjuul from AltCryptoGems points out that this moving average has acted as a dividing line between bull and bear territory, much like it did in May 2021.
“Strong spot buying pressure is essential,” Sjuul emphasized. “If BTC flips the EMA 50 Daily and breaks through the $87K liquidity wall, a bullish continuation is likely.”
Next Week Could Be Crucial
Despite the current excitement, the Easter weekend could slow things down. Low trading volumes and limited liquidity might result in sideways action over the next few days. But once the holiday dust settles, Bitcoin’s next big move could arrive.
As of now, Bitcoin is trading at $84,521, showing a 1.2% weekly increase. All eyes are on whether BTC can reclaim key levels and finally push past $90,000. The stage is set—now it’s a waiting game.
DISCLAIMER:
The views and opinions expressed herein are solely those of the author or advertiser and do not necessarily reflect the views of the publisher. The publisher does not endorse or guarantee the accuracy of any information presented in this article. Readers are encouraged to conduct further research and consult additional sources before making any decisions based on the content provided.