Crypto analyst PlanD has highlighted a key development on the Bitcoin price chart, identifying a critical level around $90,650. Bitcoin has faced difficulty breaking above the $90,000 mark since falling below it in mid-December.
In a Friday post on X, PlanD noted that an ascending triangle pattern is forming on Bitcoin’s 4-hour chart. This bullish pattern occurs when the price sets higher lows while repeatedly testing a flat horizontal resistance level, signaling increasing buying pressure and the potential for an upward breakout.
According to PlanD, the resistance line aligns with $90,650 after two recent price rejections, making it a crucial breakout point. If buyers manage to push the price above this level, the analyst believes Bitcoin could see a strong rally toward the $93,500 to $97,000 range.
This potential surge could be fueled by a short squeeze, where traders who bet against Bitcoin are forced to close their positions as the price rises. However, PlanD cautions that any such move should be viewed as a short-term relief rally rather than a reversal of the broader bearish trend that began in late 2025. He advises investors to remain cautious and reassess their positions around $97,000 unless Bitcoin clearly breaks above that level.
As of now, Bitcoin is trading at $87,661, down slightly by 0.18% over the past day. Daily trading volume has surged by 133.35%, indicating heightened activity as traders anticipate a potential major price move.
Market analysts remain divided on Bitcoin’s outlook. Prominent expert Ali Martinez believes the bear market started after Bitcoin hit its all-time high of $126,100 in early October. He suggests the market is currently in a phase of complacency, with many investors still expecting another rally rather than reducing risk.
On the bullish side, analyst Ash Crypto argues that the bull market is still intact, pointing to recent all-time highs in commodities like gold and silver. He expects capital to eventually rotate from those markets into Bitcoin, with a price target of $150,000 in the coming year.
Frequently Asked Questions
Frequently Asked Questions About Bitcoin and the 90650 Resistance Level
BeginnerLevel Questions
1 What does resistance level mean
A resistance level is a specific price point where Bitcoin has historically struggled to rise above Think of it as a price ceiling where selling pressure tends to increase preventing the price from going higherat least temporarily
2 Why is 90650 such an important price for Bitcoin right now
Analysts have identified 90650 as a key barrier based on past price action If Bitcoin can break and hold above this level it could signal a shift in market sentiment from selling to buying potentially leading to a new wave of upward momentum
3 What does shortterm relief mean in this context
Shortterm relief refers to a potential price bounce or rally that could ease recent selling pressure or sideways movement It doesnt necessarily mean a longterm bull market is starting but it could lead to a more positive price trend for days or weeks
4 What happens if Bitcoin fails to break above 90650
If Bitcoin repeatedly fails to break this level it could fall back to test lower support levels This might lead to continued consolidation or a deeper price correction as confidence wanes
Advanced Practical Questions
5 What factors could help Bitcoin break above this resistance
Key drivers include a surge in buying volume from large investors positive macroeconomic news major institutional adoption or a decrease in selling pressure from miners or large holders
6 Is a breakout above resistance always a reliable buy signal
Not always For a breakout to be considered strong and reliable it should be accompanied by high trading volume A lowvolume breakout is more susceptible to a false breakout where the price quickly falls back below the resistance level
7 What are common trading strategies around a key resistance level
Breakout Traders May buy if the price closes decisively above 90650 on significant volume targeting the next resistance level
Range Traders Might sell near 90650 and buy near a lower support level