Bitcoin could tag $90,000 again but only if this level stops acting like a sell wall for trapped traders
Bitcoin's potential rally to $90,000 hinges on momentum consolidating above +0.5 and overcoming key resistance levels acting as sell walls for trapped traders.Summary
Bitcoin's recent rally above $73,000 suggests a possible transition out of peak negative momentum, according to Swissblock's framework, provided momentum can consolidate above the critical +0.5 threshold. While indicators like improving ETF demand and easing selling pressure suggest early conditions for a regime change, CryptoQuant's low Bull Score Index indicates bullish conditions are not yet present. Key improvements include easing spot demand contraction and a return of US-led buying driven by ETF inflows, alongside reduced selling pressure from both short-term traders and long-term holders. The immediate test involves overcoming resistance at $79,000 (traders' realized price) and then $90,000. If Bitcoin breaks and holds $79,000 while demand improves, a true regime change is likely; otherwise, the rally risks being a temporary bounce, leading to either a failed flip or a prolonged period of consolidation.
(Source：CryptoSlate)