Bitcoin Faces Critical Resistance At $91,000 As Short-Term Holders Hover At Break-Even 📉
Bitcoin is currently experiencing a market consolidation, with its prices gaining only 0.95% over the past week. Despite a significant rally in early April, the cryptocurrency struggles to breach the $85,000-$86,000 range. Analyst Ali Martinez highlights a key resistance level at $91,275, which Bitcoin must overcome to validate a bullish trend.
The short-term holders' realized price, at $91,275, plays a critical role in determining market sentiment. When market prices are above this level, it suggests bullish momentum. However, falling below it results in psychological resistance, as holders might exit at break-even, adding selling pressure.
At the time of writing, Bitcoin trades at $84,872, facing immediate resistance at $86,000. Breaking this level could propel the price to $91,000, while falling below $84,500 may lead to a decline toward $83,300.
Source: www.newsbtc.com ↗
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