Bitcoin has faced a serious challenge to try to penetrate the level of $ 90,000. Despite various attempts, cryptocurrency had difficulty in surpassing this important price for various reasons.
One of the main factors that hinder Bitcoin’s ability to overcome $ 90,000 is that there is a lack of significant purchase pressure at that level. Merchants and investors were reluctant to raise the price, and the price movement of Bitcoin was stagnant.
Market sentiment also plays an important role in determining price fluctuations in Bitcoin. Negative emotions and uncertainty among market participants can lead to lack of trust in cryptocurrency and prevent the new high.
In addition, according to the technical indicator, Bitcoin is faced with a strong resistance at $ 90,000. This level has been proven to be a difficult point for Bitcoin to violate, and traders and algorithms actively defend this price range.
In conclusion, the $ 90,000 resistance level presents a big challenge to Bitcoin’s price trajectory. Bitcoin may continue to be difficult to break through this important level until the market sentiment is improved until the purchase pressure increases or the technical barrier is cut off. Investors and traders must monitor these elements closely to better understand the price fluctuations of Bitcoin in the near future.