Bitcoin Eyes $89K Breakout: Key Resistance Level for Bullish Surge
At this stage, market analysts suggest that Bitcoin must secure a strong close above $89,000 to confirm a bullish continuation.
Crypto analyst Matthew Hyland remains cautious, emphasizing that it’s still too early to declare an end to Bitcoin’s prolonged downtrend. According to Hyland, the true test lies in Bitcoin’s ability to close the week above $89,000—only then would he consider the shift toward an uptrend to be confirmed.
He also pointed out that if Bitcoin fails to surpass this key resistance level, the price could face another pullback, potentially dropping to a range between $74,000 and $69,000.
“A weekly close above $89,000 would reinforce the uptrend,” Hyland noted. “But if Bitcoin struggles to break through this resistance, we could see further declines.”
Typically, when major resistance levels are overcome, it paves the way for additional gains. If Bitcoin manages to close above $89,000, it could signal that the market has reached a bottom, reducing the likelihood of a drop back to the $74,000–$69,000 range.
Editorial Team
Reporter at Coindoo
