$BTC Will Surpass 90,000$ in short term:
Based on the current trend and momentum in the chart, it's possible for Bitcoin (BTC) to approach the $90,000 level in the short term, but there are a few factors to consider:
1. Bullish Momentum: The current momentum shows strong buying interest, with BTC reaching new highs in the recent 24-hour period. If this buying pressure continues, BTC could break through current resistance levels and aim higher.
2. Resistance Levels: Reaching $90,000 will require breaking through immediate resistance zones around $85,000 - $86,000. BTC needs strong volume and bullish sentiment to surpass these levels. If BTC clears these resistances, it would have a clearer path to $90,000.
3. Overbought Conditions: Both the RSI and Stochastic RSI indicators are in overbought territory, indicating a possible pullback or consolidation before another upward move. Overbought conditions often lead to some short-term corrections, which might delay a quick rally to $90,000.
4. Market Sentiment and News: The crypto market is often influenced by external factors such as news events, regulatory changes, or macroeconomic conditions. Positive news or events could accelerate the rally, while negative news might slow it down.
In summary, while $90,000 is an achievable target in the short term, a few pullbacks or consolidation phases are likely along the way due to overbought signals. If BTC can maintain its momentum and overcome resistance levels, reaching $90,000 in the near future is within reach. However, traders should remain cautious and monitor for signs of potential corrections.
