Analyst Identifies $90,000 As Bitcoin’s Pivotal Support
The post Analyst Identifies $90,000 As Bitcoin’s Pivotal Support appeared on BitcoinEthereumNews.com.
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Veteran market analyst with X handle Daan Crypto has shared an intriguing insight on the present Bitcoin market structure. In a recent post on May 16, Daan Crypto provided some technical pointers for BTC investors while highlighting the potential fundamental developments that could influence the price action of the premier cryptocurrency. Bitcoin Break Above ATH Key To Bullish Momentum In a major breakthrough for investors, the US and China have agreed to a 90-day pause on the recent steep tariffs, aiming to de-escalate a looming trade war between the world’s two largest economies. The announcement sparked a surge in market confidence, with over $600 billion flowing into global financial markets.According to Daan Crypto, Bitcoin recorded a sharp price gain following this development, even outperforming the US stock market for a while almost trade at $106,000. However, the crypto asset’s price growth has since stalled, entering a range-bound market between $101,000 – $105,000, while the stock market has recorded a continuous price growth.With a current market price around $103,000, Bitcoin trades a few price levels below its all-time high at $109,000. Daan Crypto explains that the premier cryptocurrency must surpass this ATH level and enter price discovery to rediscover a bullish momentum for a long-term uptrend. Barring this development, the market expert predicts BTC will likely remain in consolidation for the foreseeable future. $90k Support Zone Crucial To BTC Bull Structure – Analyst In other developments, Daan Crypto has picked $90,000 as the critical support level for the current market uptrend. The analyst has stated that a fall below this price would produce a bearish signal, indicating that Bitcoin has fallen out of its bullish range and may experience a significant downswing. Source: @DaanCrypto on X Notably, a…
Filed under: News - @ May 17, 2025 7:24 pm