If the Bitcoin price breaks this level, there is still a chance to clear $90,000
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Bitcoin’s price continues to trend lower, failing to recover $90,000. The bears have dominated over the past few months, dragging Bitcoin from over $100,000 to below $80,000 and then bounced to $83,000. Now, these developments have raised questions about whether the bull run ends. However, there may still be some hope for leading cryptocurrencies, which may see a reboot of the bull market.
Bitcoin needs to be cleared correctly $86,190
Crypto analyst Rlinda explained on the TradingView website that the price of Bitcoin started showing some positive signals after its all-time high price crash. However, even these positive trends are not enough to indicate a breakthrough in the downward trend, especially since there are still significant levels before the appropriate breakthrough is confirmed.
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Bitcoin prices show some advantages, especially since the $80,000 level was recovered. Analysts say the advantage is driven by localized growth in the index and talks and expectations about the Fed’s potential reduction in interest rates. All of this is in the middle of a brutal tariff war between the United States and China, the main driver of the crashes suffered by the cryptocurrency market.
With current recycling, Bitcoin prices are facing a critical level that can determine the next move. The point is that cryptocurrencies have to conquer $86,190 resistance, especially for bulls seeking confirmation of recovery.
As crypto analysts explain, BTC prices have now surpassed the resistance of the down channel and have been consolidated at the $86,190 level. So if Bitcoin can properly clear this resistance, further increase is about to rise.
Once defeated, the next major resistance is $88,800. This shows that the Bulls have even returned to the $90,000 level again, and there is still a long way to go.
Disadvantages may last longer
While hopeful bitcoin investors are more than $86,190, there is still a possibility that prices will fall further without clearing resistance. If the bear can lower the price, the support level will begin to drop further and further.
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Crypto analysts say the first support is $83,170 starting at the current level. With this, the next major support is below $80,000 for $78,170. This will send it back to the March 2025 low.
“But in 88800, we will have to observe the price reaction,” Rlinda said. “Taking a keen approach to the main test ends with fake breakthroughs and corrections.”
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