Bitcoin nears $90,000 resistance, but analysts predict a brief dip to $76,604 before a potential breakout - IcoHolder.

Bitcoin is once again making headlines as it steadily climbs toward the $89,000 mark, setting its sights on a critical resistance level at $90,000. But as the leading cryptocurrency inches closer to this key threshold, some analysts are predicting a potential short-term dip before Bitcoin can make its next big move.

Michael van de Poppe, a popular crypto analyst, has raised the possibility of a brief pullback. In a recent post on X, van de Poppe suggested that Bitcoin could experience a slight dip, potentially reaching $76,604, before resuming its upward momentum. He pointed to the resistance zone between $86,549 and $88,244, which has historically acted as a significant hurdle for Bitcoin. Each time the cryptocurrency has approached this range, it has been pushed back.

However, van de Poppe believes this time could be different. He sees a potential pullback as a healthy reset for the market. If Bitcoin can hold the $80,982 level during any short-term correction, it would signal that buyers are still in control, giving the market the strength needed to push Bitcoin higher. On the other hand, if Bitcoin drops below this level, it may face further downward pressure, with $76,604 acting as the next potential support.

Beyond technical analysis, van de Poppe also pointed to the larger global picture. A potential deal between the United States and China, he suggests, could ease market tensions and provide Bitcoin with a much-needed boost. Bitcoin's recent positive price movement has already been fueled by significant institutional buying, including a $555.8 million purchase by Strategy, the world’s largest corporate holder of Bitcoin, which added 6,556 BTC to its portfolio.

Currently, Bitcoin is trading slightly above $88,500, up 1.5% in the last 24 hours. With momentum building, the $90,000 resistance level is now in focus. A clear break above this price point could set the stage for new highs, but whether Bitcoin will experience a brief pause before making its next move remains to be seen. All eyes are on this critical level as traders eagerly await what could be the next phase of Bitcoin’s price journey.