Bitcoin gets $90K short-term target amid warning support 'isn't safe'

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Coin Telegraph 1d ago

Bitcoin gets $90K short-term target amid warning support 'isn't safe' - Coin Telegraph

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Related: Bitcoin can reach $138K in 3 months as macro odds see BTC price upsideBitcoin, he confirmed, had definitively broken out of a multimonth downtrend without violating it during retests as support.“Bitcoin hasn't just broken the Downtrend and successfully retested it as support for the first time since Downtrend formation,” he wrote.“But Bitcoin has also been able to sustainably maintain above the Downtrend for a period of several consecutive days now.”BTC/USD 1-day chart.

BUT, i think the 83k level isn't safe, those lows from last Sunday and Wednesday are likely to get run first,” he summarized on X. “THEN we wait for the reaction and bullish structure to build back inside the range low.”Bitcoin order book liquidity chart.

Source: Daan Crypto Trades/XAn accompanying chart showed BTC price action relative to the latest closing point of CME Group’s Bitcoin futures, potentially inviting the creation of a “gap” that could provide a short-term price magnet.