- Bitcoin reclaims $90,000 price range and reignites bullish expectations.
- Lark Davis reveals the next bull targets for the asset.
- He especially highlights two crucial resistance levels for BTC.
The price of Bitcoin (BTC), the pioneer crypto asset, just reclaimed the $90,000 price range after trading in the $80,000 price range for about a week. Since the price of BTC had fallen from 6-digit prices, bearish expectations are slowly turning bullish. As Bitcoin reclaims $90,000 price range, Lark Davis reveals the next bull target for Bitcoin. Is the asset shifting tides to bullish targets once again?
Lark Davis Reveals the Next Bull Target
This week was a patient and hopeful week for the crypto market, and yesterday reignited a bullish expectation. In detail, the price of BTC went on to reclaim $90,000 price range after trading in the $80,000 price range for the entirety of the previous week. To highlight, the price of BTC had fallen from 6-digit prices the week prior, taking BTC into a highly bearish territory and initiating high FUD.
According to CoinMarketCap analytics, the price of BTC is currently trading in the $91,400 price range, showing that the asset is trading in green over the last 24 hours. Presently, the pioneer crypto asset is boasting a total market cap of $1,823,851,853,811.03 and a 24-hour trading volume of $49,462,040,281.19. Bitcoin will need to see a pump of over 27% for the asset to reclaim its previous ATH set at $126,000, 2 months ago.
Over the past week, the popular opinion was that Bitcoin (BTC) was heading into a bear market and that the price of BTC would go on to hit even lower targets, between the prices of $50,000 and $60,000. Some analysts even went as far as calling for $40,000 BTC prices in the midst of the bear market. On the contrary, other analysts remained highly bullish, highlighting multiple bullish signals that indicate a massive flow of liquidity for crypto soon.
Bitcoin Reclaims $90,000 Price Range
Amidst the many bear vs bull discussions, most analyst in the neutral camp are only looking at the charts and doing their best to make decisions based on the data, and looking at the data is pointing to undeniable calls for a prolonged bull market. Using these indicators, these analysts and traders are making strategic plans to position themselves accordingly so as not to miss the expected parabolic pump.
As we can see from the post above, Lark Davis, a popular crypto analyst and trader, goes on to shed light on the fact that BTC has reclaimed the $90,000 price range and shares his opinions on what will happen next. To highlight, he states that the next real resistance for BTC sits at the 50-week EMA, currently sitting around $100,000. He markes this as both a technical ceiling and a psychological level.
However, next he states that the real resistance is sitting a bit higher and marks the next major resistance cluster at the $108,000 – $110,000 price range, and mentions that this area is stacked with confluence at the 0.618 Fibonacci retracement, a major horizontal resistance from prior structure, and a point of control from the auto-anchored volume profile. So, he concludes that $100,000 is the first test and then the $108,000 – $110,000 price range is the real range to watch.
