Bitcoin begins a horizontal trend
The market made a strong surge, reaching $88,000 as a very high number that confirms the overall trend remains bullish. However, after touching this level and the price began moving sideways instead of continuing upward. This raises the question: Is the market consolidating before breaking $90,000? Or could we see a correction soon?
When the market reaches a new record high there is some hesitation between buyers and sellers. We usually see a sideways movement or fluctuation in a narrow range which is often a sign that the market is entering a consolidation phase and If trading volume is good at now levels as it means that institutions and large investors are consolidating their positions in preparation for the next uptrend.
Why is $90,000 the next target?
Upward momentum remains strong and we haven't seen any clear signs of weakness from the market.
Liquidity remains high confirming that buyers are still interested in buying at current levels.
The accumulation phase often precedes the launch and this has previously occurred at lower levels such as 60,000 and 70,000.
Signs that might alert us?
If we see a strong break of support at 86-85,000 as a correction may occur before the upward trend continues.
If trading volumes begin to decrease significantly and this could be a sign of weak buying power.
Sudden news or a strong move by whales could quickly change the situation.
In general, the market is currently very positive, and if it remains above 87-86,000, the chances of a launch to 90,000 or even higher are very high. However, we must monitor the next move with caution, as markets are always full of surprises.
