Bitcoin (BTC) traders faced new downward pressure at the start of Wall Street on Friday as the $90,000 threshold remained in question.
Key points:
Bitcoin approaches $90,000 with traders targeting lower BTC price levels next.
Current liquidity conditions support an initial bid sweep, according to analysis.
Ichimoku Cloud indicators suggest a possible larger decline ahead.
BTC price bets shift below $90,000
Data from Cointelegraph Markets Pro and TradingView indicated that BTC/USD fell nearly 2% compared to Thursday’s close.
After a rejection at the 2025 yearly open level the previous day, Bitcoin struggled to gain traction, and market participants were eager to see support retests lower.
“Orderbook heatmap shows thin bids with substantial buy walls only at 86K and below,” trading account Exitpump noted in a new analysis on X.
“Considering gradually filling the gap and resetting OI, which would be beneficial for upward movement.”
Crypto investor and entrepreneur Ted Pillows used exchange order-book data from CoinGlass to highlight $90,000 as a significant level.
“Currently, Bitcoin possesses two notable liquidity clusters. The upside liquidity hovers around $94,500, while downside liquidity gathers near $90,000,” he summarized.
“In my opinion, a sweep of the downside liquidity before a reversal is logical.”
Pillows described the current market situation as a “clean the lows then decide” setup.
“It’s crucial that this doesn’t fall below the ~$88K area again on higher timeframes,” trader Daan Crypto Trades concluded the previous day.
Bitcoin Ichimoku analysis suggests decline
Looking at potential future lows, trader Titan of Crypto used Ichimoku Cloud analysis to project levels closer to $80,000.
Related: Ether vs. Bitcoin hints at 170% gains as ETH price ends 5-month downtrend
A possible support zone he identified was just under the current $83,900 local lows seen at the beginning of the week.
“Is Bitcoin heading towards $89,000 next?” he inquired, referencing several key features on the Ichimoku chart.
“BTC reached the previous weekly high but failed to surpass the Kijun. A pullback towards the Tenkan from here is reasonable. That’s the crucial level to monitor. If it fails, next support lies 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.
