Bitcoin's Short-Term Relief Stands at Critical $90,650 Resistance Level

Bitcoin

In the latest analysis of the Bitcoin market by popular crypto expert PlanD, attention is directed to a crucial development occurring around the $90,650 price mark. The leading cryptocurrency has faced challenges breaking through the $90,000 price area since it dropped below this range in mid-December.

Key Insights for Bitcoin Traders

Resistance Identification: Bitcoin is struggling with resistance around $90,650.
Potential Rally: A breakout beyond this level could lead to a surge towards $97,000.
Market Analysis: However, the rise may be temporary, characterized as a “short-term stop hunt.”
Current Price Status: As of now, Bitcoin is trading at $87,661.

Analyst Predicts Possible Rally to $97,000 if Resistance is Broken

In a recent post on X, PlanD reported that an ascending chart pattern is taking shape on the BTCUSD 4-hour chart, reflecting last week’s price movement. This rising triangle pattern is regarded as a bullish indicator, formed when prices exhibit higher lows while consistently meeting resistance at a flat horizontal level.

In the realm of technical analysis, this specific ascending triangle typically denotes increasing buying pressure and the potential for an upward breakout. PlanD highlights that the established resistance aligns with $90,650, following two previous rejections at this level, marking it as a pivotal breakout point in the current pricing structure. Should market bulls successfully surpass this level, the analyst predicts a significant price surge towards the $93,500 to $97,000 range.

Bitcoin
(Source: @cryptododo7 on X)

This expected price increase could be influenced by a potential short-squeeze as traders with short positions around the resistance area are compelled to close their trades due to the breakout. Despite this optimistic outlook, PlanD cautions that traders and investors should see any rise in price as a “short-term stop hunt/relief rally” rather than a permanent reversal trend after Bitcoin's bearish performance in Q4 2025. He recommends that investors should be ready to reassess their positions at $97,000 unless Bitcoin decisively breaches this target.

Current Overview of the Bitcoin Market

At the time of this report, Bitcoin is valued at $87,661, reflecting a slight decrease of 0.18% over the past day. However, the daily trading volume has spiked by 133.35%, indicating a surge in trader activity in anticipation of a significant price shift.

Interestingly, analysts from both bullish and bearish perspectives are maintaining their stances lately. Notably, market expert Ali Martinez believes that the bear market commenced after Bitcoin hit its all-time high of $126,100 in early October. According to him, the market is currently undergoing a phase of complacency, where investors wrongly anticipate another price surge instead of strategically reducing their holdings.

Conversely, bullish analyst Ash Crypto insists that the bull market remains intact, citing recent price increases and the creation of new all-time highs in commodity markets like gold and silver. This expert anticipates an inevitable capital shift from these markets into Bitcoin, projecting a price target of $150,000 in the upcoming year.

Bitcoin
(BTC trading at $87,565 on the daily chart | Source: BTCUSDT chart on Tradingview.com)