Bitcoin (BTC) surged past $89,000 on April 22, marking its highest level since early March. Despite the bullish momentum, market analysts are urging caution as BTC approaches a major resistance zone that could determine its short-term direction.
Strong Demand Pushes BTC to 6-Week High
The latest rally has been fuelled by robust spot market demand, especially during U.S. trading hours on April 21. Data from Cointelegraph Markets Pro and TradingView shows Bitcoin steadily climbing towards $89,000 over a six-hour window, prompting speculation about a potential breakout above the psychological $90,000 mark.
However, price action suggests consolidation just below this level, hinting at underlying selling pressure. The 200-day simple moving average (SMA) also lies in this zone, reinforcing its technical importance.
$90K–$91K: A Major Resistance Band
Prominent crypto trader Daan Crypto Trades highlighted that BTC is now entering a critical range between $90,000 and $91,000, which previously acted as support and now threatens to become a ceiling.
“The price has swept the $89,000 level, consolidating below it. Quite a few resistances close by,” he noted on X, adding that a clean break could drastically shift momentum in favour of bulls.
Analysts Flag $91K–$92K as the Real Test
According to Julio Moreno, head of research at CryptoQuant, the key area to watch is the $91,000–$92,000 band — the average realised price of active traders. This metric often acts as a barrier in bearish conditions, as it represents the level at which many traders are currently breaking even or sitting on minimal gains.
“Breaking this zone could signal a genuine trend reversal,” Moreno noted, but warned that failure to do so may lead to another correction.
Can Bulls Break Through or Is a Pullback Coming?
With strong resistance overhead, traders remain cautious. A rejection at $90K could spark a short-term pullback, especially if selling pressure intensifies from holders looking to lock in profits.
Still, technical sentiment remains broadly optimistic. “A few percentage moves and you’ll break through all of them,” Daan Crypto Trades said. “The chart looks pretty great. Bulls know what to do.”
As Bitcoin flirts with a decisive breakout, all eyes are on whether it can clear the resistance and turn $90K into support — or if it will retreat for another period of consolidation.
