Bitcoin hit $90,000, but holding it is proving to be a challenge. Cointelegraph explains why.
Bitcoin (BTC) price is trying to punch through the $90,000 level but encountering some pushback. Let’s briefly explore why.
On the BTC/USDT 1-hour chart, we can observe a block of sell orders. As BTC price runs into these asks, the selling adds a bit of gravity to the price momentum, and price pulls back slightly. Another block of asks can also be observed at $91,150.
BTC/USDT 1-hour chart. Source: TRDR.io