Bitcoin shows a potential for short-term bullish momentum but faces resistance at $90k. This article examines Bitcoin's recent price movement, technical indicators, and potential for a breakout.
Bitcoin presents a short-term bullish outlook , but the resistance at $90k could prove formidable in the coming days. If the realized price continues its upward trajectory, it may propel BTC towards a price range of $150k-$180k. The recent price movement exceeding the mid-range resistance is a positive indicator. Since late February, Bitcoin 's price has oscillated within a range of $79.2k to $94.3k, with a midpoint at $86.8k. On March 24th, the price surged past this local resistance.
Following the move, a minor 2% pullback occurred, but Bitcoin still demonstrates potential for further gains.On the 4-hour chart, the price action remains bullish, characterized by higher highs and higher lows over the past week. The CMF indicates bullish momentum with a reading of +0.16, reflecting substantial capital inflows. Meanwhile, the OBV has gradually increased over the past ten days but hasn't yet reached the local highs observed on March 3rd. The 1-week liquidation heatmap revealed rejection at the $88.2k liquidity cluster on March 24th. Another significant liquidity pocket has formed between $88.9k and $89.7k, just below the psychologically significant $90k level.A strong magnetic zone was identified at $83k, but its distance from the current BTC price of $86.6k suggests an upward move is more likely. This short-term bullish outlook is further supported by technical analysis of the 4-hour chart. However, a bearish reversal could materialize in the $89k-$89.7k range. Swing traders should consider taking profits in this region. The next resistance at $90.5k may present a challenging obstacle for the bulls
Bitcoin BTC Cryptocurrency Price Analysis Technical Analysis Bullish Outlook Resistance Breakout $90K
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