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Bitcoin Faces Key Resistance After Brief $90K Surge

Bitcoin hit a new all-time high of $90,240 on Nov. 13 before encountering resistance. Analysts suggest BTC may need consolidation at lower levels to sustain further gains, with $102K identified as the next major target.

• Main Points:

  • New High: Bitcoin briefly reached $90,240, facing a strong sell wall at $90K.

  • Market Outlook: Analysts foresee consolidation between $70K–$90K before potential upward movement.

  • Key Levels: $102K identified as a critical target based on Fibonacci analysis.

• Detailed Insights:

  • Resistance at $90K: Heavy liquidity at $90K has prevented sustained movement above this level.

  • Trend Signal: Material Indicators warn of potential short-term pullback.

  • Analyst View: Credible Crypto suggests consolidation within the $70K–$90K range.

  • Fibonacci Level: Statistician Willy Woo identifies $102K as a pivotal resistance point if BTC breaks higher.

Related: Crypto Market Cap Hits $3.1T, Approaching France’s GDP

Analysts recommend caution as BTC navigates current resistance levels, with a possible consolidation phase before any next upward surge.

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Bitcoin Profit-Taking Remains Moderate as $90K Level Holds

Despite Bitcoin’s recent spike to $90K, profit-taking remains below historic highs, hinting at potential room for further growth. Glassnode data reveals realized profits since the last high phase are significantly lower than previous cycles.

• Main Points:

  • Profit-Taking Low: Realized profits at $20.4B, about half of prior ATH levels.

  • Market Optimism: Traders view current levels as supportive for more gains.

  • Key Insights: Analysts highlight that BTC may push higher without exhausting demand.

• Detailed Insights:

  • Realized Profits: Bitcoin traders have cashed in $20.4B since surpassing $73,679.

  • Holding Gains: BTC briefly hit $90K, now steady at around $87.5K, showing resilience.

  • Cory Klippsten's Take: Swan Bitcoin CEO lauds Bitcoin’s stability after recent gains.

  • Investor Sentiment: Noted investors like Robert Kiyosaki and Anthony Pompliano express continued faith in BTC's potential to reach $100K and beyond.

  • Future Potential: Glassnode suggests potential for additional gains before profit-taking peaks.

Related: "Rich Dad Poor Dad" Author Warns Bitcoin Investors: Don’t Get Greedy

With Bitcoin still below its highest profit-taking levels, market participants remain cautiously optimistic about further upward movement in the coming months.

Bitcoin Battles to Break $90K—Traders Eye Key Resistance Levels

Bitcoin has been attempting to hold above $90K but faces resistance from sell orders. Traders believe that clearing this level could trigger a series of liquidations, pushing BTC even higher.

• Main Points:

  • Resistance at $90K: Heavy sell orders are keeping Bitcoin below this level.

  • Sell Walls Identified: Key resistance at $90,000 and $91,150, limiting upside momentum.

  • Potential Gains: Breaking $90K could lead to short liquidations up to $93K.

• Detailed Insights:

  • Sell Orders: Large sell blocks at $90K and $91,150 create resistance, visible on order books.

  • Liquidation Potential: Breaking $90K could liquidate short positions, supporting further upside.

  • Spot Volume Surge: Notable increases on platforms like Coinbase suggest strong buyer interest.

Related: Solana Hits 2-Year High: Is an All-Time High Next?

A sustained move above $90K could unlock significant buying pressure, positioning BTC for a potentially larger breakout.

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This article is not financial advice. Market conditions can change rapidly, and past performance does not guarantee future results