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After $88K, Bitcoin Enters a Resistance Cluster: What Comes Next?

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After $88K, Bitcoin Enters a Resistance Cluster: What Comes Next?

With a value of US$93,504 as of April 23, 2025, Bitcoin (BTC) has been gathering momentum and has increased by almost 6.2% since its last close. The cryptocurrency’s intraday trading range included a high of US$93,723 and a low of US$88,027. With a strong resistance cluster dictating short-term trends, this incident puts Bitcoin at a difficult juncture.

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Key Resistance Levels Bitcoin Enters a Resistance Cluster

The following crucial resistance locations have been faced by Bitcoin’s movement:

200-Day Simple Moving Average (SMA): At $88,356 right now, the 200-day SMA is regarded as a crucial indicator of broad trends. A breakout over this level would indicate a bullish renewal eruption.

Ichimoku Cloud: The upper border of the Ichimoku Cloud, when combined with the 200-day SMA, highlights once more how significant the breakout above would be as a positive market trend signal.

March 24 High: The previous top at US$88,804 essentially represents a psychological resistance level, as more gains may be possible if that level is broken.

Market Sentiment and Behavioral Dynamics

As Bitcoin gets closer to these resistance levels, a lot is on people’s minds. Prospect theory states that traders are often risk-averse when it comes to profits and risk-seeking when it comes to losses. This field may halt the price’s upward momentum by encouraging profit-taking close to resistance zones.

However, a successful break of these resistances would cause FOMO, which would raise purchase pressure prices.

Potential Upside Targets

The following are potential upside goals if Bitcoin breaks the current resistance cluster:

US$91,000–$93,000: The TBO Cloud high is slightly over US$93,000, which represents the following resistance zones.

US$94,000–$95,000: This range corresponds to the confluence of Fibonacci retracement levels, which may potentially be possible locations for market consolidation and reversal.

Additional Drawbacks and Support Levels

Important support levels to be aware of include:

The amount of US$83,000 was determined to be a large liquidity zone. Pulling back to this level would therefore attract buying interest.

US$76,000: Given that it aligns with prior consolidation zones, this is probably the goal of a more significant correction.

The Impact of Outside Factors

The volatility of Bitcoin prices has been impacted by new political developments. Due to Donald Trump’s statements that Jerome Powell, the chair of the Federal Reserve, is especially crucial, traditional markets are unable to make decisions, and investors are turning to alternative investment options like Bitcoin. Paul Atkins’ appointment as the next SEC Chair in connection with an issuance that is allegedly favorable to cryptocurrency is also recent news.

At a crucial resistance cluster above US$88,000, Bitcoin is currently at a pivotal point in its history. New bullish phases that have the potential to drive prices higher are created when this level is cleared. Conversely, a failure could result in greater price volatility and, thus, higher intraday price fluctuations.On the other hand, if these obstacles are not removed, there can be a temporary correction. To manage the upcoming price movements, investors should keep a close eye on technical indicators and market mood.

 

 

 

 

 

 

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