Bitcoin price is approaching $87,000 with mixed trader sentiments about potential breakout significance. Despite early March price obstacles, many anticipate prices may reach $90,000. However, macroeconomic factors and analysts express continued caution about the intact bull market dynamics and future price movements.
Bitcoin approaches a crucial price threshold as it nears $87,000, igniting discussions among traders about the significance of this potential breakout. Despite previous predictions of a drop to $50,000, the recent green candle has led to a sudden shift in sentiment towards bullish expectations. However, scepticism remains regarding the sustainability of this upward momentum, particularly against a backdrop of macroeconomic volatility, prominently influenced by the US trade war.
Data from Cointelegraph Markets Pro and TradingView indicates that Bitcoin is attempting to surpass an $86,000 resistance level. The recent robustness in Bitcoin’s performance over the weekend has prompted speculation about further climbs towards $90,000, a price point not observed since early March. However, cautious analysts from Stockmoney Lizards predict a continued range-bound movement between $78,000 and $88,000 for several weeks as Bitcoin builds toward its next significant price action.
