title: Bitcoin Breaks $86.8K Mark, Eyeing $90K Resistance

Bitcoin has recently broken past the $86.8K mark, signaling a bullish trend in the short term. Despite this positive momentum, traders are eyeing the upcoming $90K resistance level with caution

Bitcoin price has recently broken past the $86.8K mark, signaling a bullish trend in the short term. However, traders are eyeing the upcoming $90K resistance level with caution, as it might not be easily overcome in the next few days.

Technical Analysis:

Relative Strength Index (RSI) on the 14-hour chart suggests that Bitcoin is in overbought territory, indicating that the asset might experience a pullback soon.

Over the last week, Bitcoin’s price trajectory has shown considerable bullish behavior.

Over the last week, Bitcoin’s price trajectory has shown considerable bullish behavior.

From a low of $81.1K last Tuesday, Bitcoin’s value has increased by 6.88%.

This uptrend is supported by a positive structure on the four-hour chart, showcasing a pattern of higher highs and higher lows, which suggests a continued upward movement.

Chaikin Money Flow (CMF) on the four-hour chart is currently above zero and in positive territory, which indicates that more money is flowing into Bitcoin than out of it. This capital inflow is likely fueling the current rally.

Critical Resistance Levels:

The market’s liquidity heatmap highlights a recent rejection at the $88.2K mark, with another significant liquidity pocket forming just below the $90K psychological barrier, between $88.9K and $89.7K. This area could act as a magnet for price movements in the short term.

A zone of strong support is also indicated around the $83K level.

Given the current price and market conditions, an upward trajectory appears more likely than a downturn.

Short-Term Trading Strategy:

If you hold Bitcoin and the price pulls back to touch the $89K-$89,700 zone, it might be a good opportunity to consider reducing some longs or setting a limit sell order.

If Bitcoin manages to break above the $90,500 resistance, then the next bullish target could be seen at $94,300. However, breaking above the $90,500 resistance might not be an easy feat to achieve in the next few days.