Bitcoin Ready to Reclaim $90,000? BTC's 'Next Big Move' Could Come Next Week

In the context of a volatile market, Bitcoin (BTC) has been unable to reclaim the zone of $85,000-$86,000 despite its weekly performance. However, some analysts suggest that a breakout from the important resistance level may be imminent. Will Bitcoin continue its upward trend? In the past week, Bitcoin has traded within a price range of 83,000 to 86,000 dollars, recovering after a correction below 80,000 dollars earlier in the month. Notably, this leading cryptocurrency has experienced significant volatility last week due to the ongoing trade tariff war between the United States and dozens of countries. The recent recovery of BTC began after U.S. President Donald Trump suspended tariffs on more than 75 countries for 90 days, which brought the price of BTC back above $80,000. In the context of volatility, Bitcoin has retraced to the important support level of $78,500 and the resistance level of a four-month downtrend, compressing between these two levels. According to market tracking unit Daan Crypto Trades, Bitcoin has moved in an important zone while retesting the downward trend line as well as the Daily 200 (EMA) and the (MA), "which is the resistance level that has been difficult to break in recent weeks."

During the price surge on Thursday, BTC finally broke free from the downtrend, which could lead to a spike in the "final level for buyers to break through," the barrier of 90,000 - 91,000 dollars, as he believes that the sideways movement in the zone around 80,000 dollars will not last much longer. However, the trader believes that the upcoming days may not see significant volatility due to the Easter holiday, with expected low volume and liquidity. "It could be quite boring if there are no important new headlines," he asserted, adding that "we will see where this goes next week." The important resistance levels of BTC that need to be regained Analyst Sjuul from AltCryptoGems points out that Bitcoin is stuck below the 50-day EMA line, which is "the thing preventing us from a price surge back." He explained that this cryptocurrency has fluctuated between $78,000 - $95,000 since March, with the 50 EMA coinciding with the middle zone of the price range and seemingly acting as a resistance level over the past week. Breaking through the average level, between 85,000 and 86,000 dollars, could push the BTC price above the 90,000 dollar mark and towards the high of this zone. According to the post, the current price movement of Bitcoin resembles the performance of May 2021, before the price surge continued. At that time, BTC had reclaimed the 50 EMA line on the daily chart, "right now, just like before, (...) has been the boundary between the bull market and bear market." The analyst explains that strong spot buying pressure is necessary to break this resistance level and continue the upward momentum of BTC. "If we eventually have this spot buying pressure and if we finally see the 50 Daily EMA reverse, then all you want next is for the liquidity wall at $87,000 to be completely broken," he concluded.

As of the time of writing this article, Bitcoin is trading at 84,521 dollars, up 1.2% compared to the weekly timeframe.