Bitcoin (BTC) traders faced new downward movement at Friday’s Wall Street opening as $90,000 remained uncertain.
Key points:
Bitcoin is approaching $90,000, with traders setting lower price targets for BTC next.
Analysis suggests liquidity conditions favor an initial sweep of bids.
Ichimoku Cloud signals indicate a potential for a deeper dip ahead.
BTC price bets reset under $90,000
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD down nearly 2% compared to Thursday’s close.
After rejecting the 2025 yearly open level the prior day, Bitcoin showed no impetus for gains, with market participants eager to observe further support retests.
“Orderbook heatmap shows a thin bid side with substantial buy walls at 86K and below,” trading account Exitpump noted in new analysis on X.
“Considering gradually filling the gap and resetting OI, which will beneficially affect the upside.”
Crypto investor and entrepreneur Ted Pillows highlighted $90,000 as a crucial zone using order-book data from monitoring resource CoinGlass.
“Bitcoin has two significant liquidity clusters now. The upside liquidity is near $94,500, whereas the downside liquidity is around $90,000,” he stated.
“In my opinion, a sweep of the downside liquidity before any reversal is logical.”
Pillows described the current chart conditions as a “clean the lows then decide” setup.
“Ideally, this does not break below the ~$88K region again on higher timeframes,” trader Daan Crypto Trades concluded the previous day.
Bitcoin Ichimoku analysis trends downward
In light of potential future lows, trader Titan of Crypto utilized Ichimoku Cloud analysis to bring attention to levels nearer to $80,000.
Related: Ether vs. Bitcoin hints at 170% gains as ETH price breaks 5-month downtrend
A potential support zone, he mentioned, exists just below the current $83,900 local lows seen earlier this week.
“Is Bitcoin heading to $89,000 next?” he asked, referencing various significant Ichimoku chart features.
“BTC reached the previous weekly high but failed to surpass the Kijun. A pullback towards the Tenkan from this point seems reasonable. That is the key level to monitor. If it breaks, the next support sits around $83.9k.”
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
