Renowned cryptocurrency analyst PlanD has highlighted a significant pattern emerging on Bitcoin’s price chart, pinpointing a crucial level near $90,650. Since falling below the $90,000 mark in mid-December, Bitcoin has found it challenging to surpass this threshold.
Analyst Predicts Bitcoin Could Surge to $97,000 Upon Breaking Resistance
In a recent post on X (formerly Twitter), PlanD detailed the formation of an ascending triangle pattern on the BTCUSD 4-hour chart based on last week’s price movements. This technical setup is characterized by higher lows combined with consistent resistance at a horizontal level.
The ascending triangle typically indicates mounting buying momentum and suggests that an upward breakout may be imminent. PlanD identifies the flat resistance line at approximately $90,650 after observing two failed attempts to break above this point. Should buyers manage to push past this barrier decisively, Bitcoin could rally strongly toward the upper range between $93,500 and $97,000.
This potential surge might be fueled by a short squeeze triggered as traders holding short positions near resistance are forced to close their bets due to the breakout. Nevertheless, PlanD cautions market participants that such gains should be viewed as temporary relief rallies or stop hunts rather than signals of a long-term trend reversal following Bitcoin’s bearish performance in Q4 2025.
The experienced analyst advises maintaining vigilance and recommends reassessing positions around the $97,000 mark unless prices convincingly climb beyond this target.
Current State of the Bitcoin Market
At present writing time, Bitcoin is trading at roughly $87,661 after experiencing a slight dip of 0.18% over 24 hours. Meanwhile, daily trading volume has surged by over 133%, indicating heightened activity among traders positioning themselves ahead of what could become a major price movement.
The market remains divided in sentiment: prominent expert Ali Martinez asserts that the bear phase began when BTC hit its all-time peak near $126,100 back in early October. Martinez believes investors are currently complacent—expecting another rally instead of reducing exposure or managing risk effectively.
Conversely from bullish perspectives like Ash Crypto’s viewpoint: ongoing bull markets in commodities such as gold and silver hint at forthcoming capital rotation into cryptocurrencies like Bitcoin—with forecasts targeting prices around $150K next year.