Apr 6, 2025
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Bitcoin Price Remains Below $90,000 with Potential for 15% Upsurge
Bitcoin has remained below the $90,000 mark for a month, currently trading around $83,000 after a slight decline of 1% in the past 24 hours. The cryptocurrency has faced challenges breaking out of the $82,000 - $87,000 range.
Potential for Price Increase
- Analyst Ali Martinez suggests a possible 15% price increase based on a symmetrical triangle pattern forming on the four-hour chart.
- A successful breakout could push Bitcoin towards approximately $95,000.
Resistance Level at $87,000
- Martinez highlights the importance of overcoming the $87,000 resistance level to initiate a bullish run.
- This level coincides with multiple technical indicators, including the 50-day and 200-day moving averages.
- A failure to breach this area may lead to further price consolidation.
The convergence of these resistance indicators at $87,000 raises the risk of a price rejection, as Bitcoin previously attempted to breach this level before retreating to about $82,000.
