Bitcoin (BTC) traders encountered new downturns as Wall Street opened on Friday, with the $90,000 mark looming.
Key points:
Bitcoin approaches the $90,000 threshold, prompting traders to set lower BTC price targets.
Current liquidity conditions suggest an initial move to sweep bids, according to analysis.
Ichimoku Cloud indicators indicate a potential larger dip ahead.
BTC price predictions focus below $90,000
According to data from Cointelegraph Markets Pro and TradingView, BTC/USD has declined nearly 2% compared to Thursday’s close.
After failing to gain traction at the 2025 yearly open level the previous day, Bitcoin saw participants eager for support retests at lower levels.
“The orderbook heatmap reveals a sparse bid side, with significant buy walls forming at 86K and below,” trading account Exitpump mentioned in recent analysis on X.
“Consider gradually filling the gap and resetting OI, which would be beneficial for upward movement.”
Crypto investor and entrepreneur Ted Pillows flagged $90,000 as a crucial zone, using exchange order-book data from monitoring resource CoinGlass.
“Currently, Bitcoin has two notable liquidity clusters. Upside liquidity is near $94,500, while downside liquidity sits around $90,000,” he stated.
“In my opinion, a sweep of downside liquidity before we see a reversal seems logical.”
Pillows described the current market conditions as a “setup to clear the lows before determining the next move.”
“Ideally, we don’t lose the ~$88K region again on higher timeframes,” trader Daan Crypto Trades concluded the previous day.
Bitcoin Ichimoku analysis suggests downward movement
Looking at potential future lows, trader Titan of Crypto applied Ichimoku Cloud analysis, suggesting levels closer to $80,000.
Related: Ether vs. Bitcoin hints at 170% gains as ETH price breaks 5-month downtrend
A potential support zone, he observed, lies just below the current local lows of $83,900 noted at the week’s start.
“Will Bitcoin hit $89,000 next?” he asked, referencing various key Ichimoku chart features.
“BTC reached the previous weekly high but failed to surpass the Kijun. A pullback towards the Tenkan seems reasonable. That level is crucial to monitor. If it breaks, next support is 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.
