Bitcoin Struggles Near $89,000
Bitcoin is encountering strong resistance around the $89,000 level, signaling a slowdown in bullish momentum even as buyers continue to defend critical support zones. Market sentiment remains cautiously optimistic, with some analysts seeing potential for a move toward $93,500 if bulls can maintain pressure. However, bears are attempting to keep BTC below $88,000, suggesting a possible battle ahead.
Veteran trader Peter Brandt has labeled the current rebound as a classic “dead cat bounce,” indicating his belief that the recovery may be temporary. Meanwhile, economist Timothy Peterson highlighted a 15% probability that Bitcoin could finish the year below $84,500, adding to the broader uncertainty.
Despite the mixed outlook, SignalPlus analyst Augustine Fan believes Bitcoin may have established local lows. He projects BTC to trade within an $82,000 to $92,000 range, barring any major market catalysts. The most important resistance zone currently lies at the 20-day EMA near $93,431. Failure to hold support could push prices downward toward $80,600 or even $73,777, making these levels critical for traders.
Altcoins Show Signs of Recovery but Remain Vulnerable
Major altcoins such as Ethereum, XRP, BNB, Solana, and Dogecoin are attempting to recover, but overhead selling pressure continues to limit their progress. Ethereum and XRP are particularly facing strong resistance, while BNB, Solana, and Dogecoin appear locked in tight battles between buyers and sellers at key technical areas.
Overall, the crypto market remains volatile, with both bullish and bearish forces exerting considerable influence. Traders should carefully monitor the major support and resistance levels across Bitcoin and top altcoins to navigate the current price action effectively.
