Bitcoin Nears $91K: Can Bulls Push BTC Price to $95K Amid Key Resistance?

Analyst WiseAnalyze has shared insights into Bitcoin's (BTC) price movements and market status. In a long X post, the analyst highlighted Bitcoin's bullish

Bitcoin price analysis for today reveals that the world’s leading digital asset is seen consolidating around the $91,000 level, following a strong bullish momentum that brought BTC to highs around $92,000.

Now, as the new week begins, traders are keeping a close eye on whether Bitcoin can continue its bullish trajectory or if a potential correction may be in the cards.

Bitcoin price seen consolidating around $91,000

Bitcoin price analysis shows that the world’s leading cryptocurrency is seen consolidating around the $91,000 level on Monday morning.

This comes after a strong bullish momentum last week saw BTC reach highs around $92,000, supported by a 'liquidity sweep' that brought buying pressure at lower levels.

However, the failure to fully break through the $92,000 resistance saw the momentum slow down, leading to a consolidation period.

Bitcoin price analysis: Bullish indicators

Technical indicators analysis suggests that bullish momentum is still present.

Relative Strength Index (RSI) is seen high at 77.51, indicating that BTC is moving into overbought territory. This could signal a potential short-term consolidation or correction.

However, Moving Average Convergence Divergence (MACD) remains positive, with MACD line above signal line and a widening histogram, reflecting strong buying interest and momentum.

Bitcoin faces resistance around $91,500 and $92,000, a zone that has seen repeated attempts to break through.

A bullish breakout from here could confirm the bullish continuation, with $95,000 being the next target to the upside.

On the downside, support is seen at $85,000 and $81,699, which traders are watching for buying interest.

Analyst highlights key Bitcoin liquidity pools, bullish continuation scenario

Analyst WiseAnalyze also highlighted some important liquidity pools around Bitcoin’s price that traders are watching for potential market activity.

Those above include $92,375, $93,215, $95,050 and $96,108, while those below are $90,541, $89,548, $88,555 and $87,714.

Moreover, several warning signs are also emerging, with traders exhibiting a more cautious stance, seen in a 20.11% decrease in futures volume and a 39.43% decline in liquidations.

Additionally, there is a short-term leaning toward bearishness, observed in a majority of long/short ratios among large traders on Binance and OKX.

Overall, the market sentiment remains bullish, withあがなう optimism in the altcoin market despite a marginal decrease in Bitcoin’s market dominance to 59.42%.

Futures open interest rose by 4.18% to reach $103.16 billion, and options open interest also saw an increase of 12.40%, hinting at greater institutional participation in the market.

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