- Analyst highlights $91,000 as a critical price level for Bitcoin (BTC).
- The same analyst says a fall below $91,000 could activate a double top scenario.
- Can Bitcoin go on to set a new ATH this bull market?
The crypto market saw a brutal end to the month of February and an even wilder start to the month of March. To highlight, the price of Bitcoin (BTC) has reclaimed the $92,000 target after BTC price fell from the $98,000 price mark to hit a local bottom of $78,000 within a week. Now, the crypto market seems to be on a bullish trajectory.
Analyst Highlights $91,000 as Critical Price Level for BTC
As we can see from the post above, the last 7 days in particular have been an exhilarating one for the crypto community. One of the biggest reasons behind this spectacular recovery for Bitcoin (BTC) is Trump’s bullish US Strategic Reserve announcement, which will hold many valuable cryptocurrencies like BTC, ETH, XRP, ADA, and SOL.
Will Bitcoin See a Double Top Scenario?
To highlight the trajectory of Bitcoin now, the analyst in the post above draws attention to the 1-day BTC price chart. Here, he states that volatility is coming but it could be bullish or bearish. The analyst eyes $91,000 as a critical level. Presently, the price of BTC has surpassed this and sits at $92,000.
However, the analyst says that a bullish bias remains strong as long as the price is held above $91,000. In contrast, if the price of BTC falls below $91,000, then the outlook may be bearish for a short time. The analyst then says despite this, a bullish result is highly possible as he aspects thill dip to trigger a double top scenario for Bitcoin (BTC).