Bitcoin: Can the $90,000 Fortress Propel the Price Toward ATH?
Against all expectations, the crypto market and Bitcoin did not succumb to panic following the announcement of US action in Venezuela and the arrest of President Maduro. After a brief wick down to $89,000, Bitcoin violently rebounded and is currently trading around $91,300. This “buy the news” movement demonstrates massive buying strength, with investors potentially viewing BTC as a safe haven asset amid instability in South American fiat currencies.
Currently, BTC faces immediate resistance around $92,000. A clean breakout above this level would open the path swiftly toward $96,000, the final stage before the mythical $100,000 mark. Conversely, indicators like the RSI are climbing back into neutral-bullish territory, suggesting the move still has fuel before reaching a critical overbought zone.
However, as trader Killa points out, the delta has flipped positive, indicating that longs are dominating. And during previous months, this shift has always been followed by a bearish reversal. Indeed, this indicates that traders are chasing price with late longs, increasing the risk of liquidations.
Therefore, the $87,000 zone must be monitored and maintained. Indeed, a 9-hour order block has appeared, indicating strong buying pressure this weekend. A return to this level would present a buying opportunity.
Ethereum and Dogecoin: Altcoins Benefit from the Upward Momentum
The leader is dragging the rest of the pack into this rally. Ethereum (ETH) has regained color, climbing nearly 1% to recapture $3,150. The market structure on Ether shows an attempt to break out of its range, with eyes fixed on the key resistance at $3,200. If ETH manages to transform this level into support, a return toward $3,500 could happen quickly.
Meanwhile, Dogecoin (DOGE) is outperforming with a rise of approximately 29% from its low, benefiting from risk appetite returning to the market. Solana (SOL) is keeping pace, displaying a price of $134, confirming that capital is once again flowing toward the most liquid large caps.
Scenario: Should We Anticipate an Explosion or a Correction?
If Bitcoin manages to close the day (daily close) above $91,500, the bullish scenario will take over with a short-term target of $96,000. However, traders must remain vigilant: a rejection below $91,000 combined with deterioration of the situation in Venezuela could send the price back to test liquidity below $84,000, invalidating the short-term trend.
With Bitcoin consolidating above $91,000, momentum appears clearly oriented to the upside. Is this the ideal moment to strengthen your positions before the next breakout toward $100,000, or should we wait for a return to $87,000?
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