Bitcoin Trading at $90,800 as Bulls Target $97,000 Resistance Level
Bitcoin is trading at $90,800 after a 13% rebound from $81,000. While this recovery has sparked optimism, key resistance levels remain a concern for traders.
Key points to note:
- The President Trump Crypto Summit on Friday may impact Bitcoin's trajectory, with potential regulatory clarity and increased institutional involvement.
- Analyst Ali Martinez identifies a critical resistance level at $97,000; reclaiming this could lead to a rally toward $150,000.
- Recent volatility saw Bitcoin drop over 18% to $78,000 before recovering, leaving it in a high-volatility phase without a clear trend.
- To confirm a recovery, Bitcoin must stay above $90,000; holding this level may signal strength and enable a move beyond $95,000.
- A failure to maintain $90,000 could lead to renewed bearish pressure, especially if it drops below $85,000.
The next few days are crucial for Bitcoin's direction, particularly regarding its ability to hold above $90K or face further retracement.
