Bitcoin Eyes $90,000 as Resistance Zones Loom Large
Bitcoin is making another push toward its recent high around $87,000 after recovering from September lows. The cryptocurrency's daily chart remains structurally bullish, with prices sitting above major moving averages.
The road to $90,000, however, contains several concentrated resistance zones. Perpetual futures order data shows three large sell orders around $86,900, $87,700, and $88,000.
The first barrier at $86,900 is particularly important because it overlaps with recent price action. A decisive move through this level would represent both a technical breakout and the absorption of a significant derivatives sell wall.
Next comes $87,700, where there's relatively little distance between the first and second levels. A breakout above $86,900 could quickly expose BTC to another wave of supply, while failure here would keep prices trapped below recent local ceilings.