3 reasons why Bitcoin price can’t take out the $90K resistance level

3 reasons why Bitcoin price can’t take out the $90K resistance level – DG Verifications & Stats

A top-heavy market, decreasing liquidity, and the absence of new buyers are keeping Bitcoin price pinned below $90,000. Market Analysis Since reaching a weekly high of $88,752 on March 24, Bitcoin (BTC) price has formed a series of lower highs and lower lows in the 1-hour time frame chart. As the end of the week approaches, Bitcoin price has failed to break above the $88,000 resistance, reducing the chance for a $90,000 retest before the end of …

Since its peak of $88,752 on March 24, the Bitcoin has been struggling to overcome the resistance of $88,000. Short-term holder sales pressure and a contraction in liquidity have hindered the growth. Transfer volumes and open interest in the futures market have fallen, while buyer demand remains low, exacerbated by macroeconomic uncertainty. Analysts predict that this prolonged accumulation could, in the long run, favour a new demand. Since it r…

3 reasons why Bitcoin price can’t take out the $90K resistance level

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