Key resistance zone flagged between $86,549 and $88,244.
\nMicroStrategy buys 6,556 BTC worth $555.8 million.
\n$90,000 is seen as a psychological and technical barrier.<\/p>\n
Bitcoin has surged back to near $89,000, inching closer to its all-time high and setting the stage for what could be a significant breakout.<\/p>\n
According to crypto analyst Michael van de Poppe<\/a>, the flagship cryptocurrency is now approaching a crucial resistance band between $86,549 and $88,244.<\/p>\n This level has historically been difficult to breach, often leading to temporary corrections.<\/p>\n However, the current market sentiment, combined with macroeconomic cues like a potential US-China deal, is fuelling speculation about a fresh rally past $90,000.<\/p>\n In a tweet posted earlier this month, van de Poppe shared a technical chart highlighting Bitcoin\u2019s rebound and its current position near a historical resistance level.<\/p>\n He suggested that Bitcoin may first dip to retest support at $80,982 before making another attempt at a breakout.<\/p>\n A further decline to $76,604 is also possible if current support fails to hold, marking a retest of a previous support level that could now act as resistance.<\/p>\n Bitcoin\u2019s rise above $88,500 has been aided by strong accumulation from institutional players.<\/p>\n Notably, US-based corporate holder MicroStrategy recently acquired 6,556 BTC at a total cost of around $555.8 million.<\/p>\n The purchase comes amid growing interest in Bitcoin as a hedge against inflation and geopolitical risks, and appears to have given the market a confidence boost.<\/p>\n According to CoinMarketCap, Bitcoin gained 1.5% in the past 24 hours, adding to its 4.7% weekly gain.<\/p>\n The surge has also lifted overall crypto market capitalisation past $2.7 trillion.<\/p>\n\n Source: CoinMarketCap<\/a><\/p>\n Van de Poppe noted that despite nearing overbought territory, the market may remain bullish if Bitcoin consolidates above $88,000.<\/p>\n A sustained rally past $90,000 could open up a move towards new highs, while failure to maintain support around $80,000 could send prices lower.<\/p>\n Technical indicators show that Bitcoin\u2019s RSI is approaching critical levels, suggesting a temporary correction could occur.<\/p>\n Still, many traders are watching the $90,000 resistance level as the next major milestone.<\/p>\n If Bitcoin manages to flip $90,000 into support, it could mark a psychological and technical breakthrough.<\/p>\n Historically, this kind of pattern has led to rapid price discovery.<\/p>\n However, if momentum fades, the cryptocurrency may struggle to hold onto gains and revisit lower support zones.<\/p>\n Van de Poppe outlined that a correction to $76,604 would still be within healthy limits and could act as a springboard for a future rally.<\/p>\n The price level was previously a key support and remains one to watch in the near term.<\/p>\n On the macroeconomic front, van de Poppe hinted at the potential impact of global events.<\/p>\n In particular, signs of de-escalation between the US and China could reduce market anxiety, prompting increased risk appetite among investors.<\/p>\n Geopolitical calm, combined with institutional accumulation and favourable regulatory signals, may set the stage for Bitcoin to finally break through its upper resistance.<\/p>\n However, short-term volatility should not be ruled out, especially as the asset hovers near historically reactive zones.<\/p>\n As of 14 April, Bitcoin is trading just above $88,606.<\/p>\n All eyes are now on whether the world\u2019s largest cryptocurrency can consolidate its gains and surge through $90,000 in the coming sessions.<\/p>\n The post BTC nears resistance zone as analysts flag potential pullback to $76,600<\/a> appeared first on CoinJournal<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Key resistance zone flagged between $86,549 and $88,244. MicroStrategy buys 6,556 BTC worth $555.8 million. $90,000 is seen as a psychological and technical barrier. Bitcoin has surged back to near $89,000, inching closer to its all-time high and setting the stage for what could be a significant breakout. According to crypto analyst Michael van de […]<\/p>\n","protected":false},"author":0,"featured_media":3058,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3057","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin"},"acf":[],"_links":{"self":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/comments?post=3057"}],"version-history":[{"count":0,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/posts\/3057\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media\/3058"}],"wp:attachment":[{"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/media?parent=3057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/categories?post=3057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digkrypton.com\/index.php\/wp-json\/wp\/v2\/tags?post=3057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Bitcoin gains 1.5% as whale accumulation boosts sentiment<\/h2>\n
Analyst warns of pullback to $76,604 if support fails<\/h2>\n
Macro trends could support the Bitcoin push<\/h2>\n