Bitcoin Eyes $97K Breakout as Analyst Flags Key $90,650 Level

Popular crypto analyst PlanD has drawn market attention to a specific chart pattern developing on the Bitcoin 4-hour chart. The formation in question is an ascending triangle, a bullish technical structure characterized by a series of higher lows meeting a relatively flat horizontal resistance line. In this instance, PlanD identifies that flatline resistance at the $90,650 price level, a zone that has capped Bitcoin’s advances since mid-December. The pattern’s core mechanics signal accumulating buying pressure, as each pullback finds support at a higher level, coiling price action against the overhead barrier.

According to PlanD’s analysis, shared in an X post, this $90,650 level has already been tested and rejected twice, cementing its role as the critical breakout point in the current price structure. A successful breach above this resistance is seen as the trigger for the next significant move. The analyst’s framework is purely technical, relying on the chart’s geometry rather than fundamental catalysts, and it establishes a clear, quantifiable threshold for traders to watch.

Should Bitcoin’s market bulls successfully push the price above the $90,650 resistance, PlanD postulates a forceful price surge into the upper band of the $93,500 to $97,000 region. This projected move is attributed not just to new buying but to a potential short squeeze. As the price breaks through a well-defined resistance level where many traders may have placed short-sell orders expecting a rejection, those positions are forced to close by buying back Bitcoin, creating a self-reinforcing upward spiral of buying pressure.

However, PlanD injects a strong note of caution into this bullish technical setup. The analyst explicitly warns traders and investors to interpret any such price gain as a “short-term stop hunt/relief rally” rather than a structural reversal of Bitcoin’s bearish fortunes from the fourth quarter of 2025. This distinction is crucial; it frames the potential rally as a tactical market move within a larger, still-cautious trend. PlanD advocates for a prudent market stance, advising that investors should prepare to reassess their positions at the $97,000 target unless the price decisively moves and sustains above it.

The technical thesis unfolds against a backdrop of heightened market activity. At the time of writing, Bitcoin trades at $87,661, showing minor daily losses. The more telling metric is a 133.35% surge in daily trading volume, suggesting traders are actively positioning ahead of a potential major price move, aligning with the tension around the identified resistance level.

This volatility is mirrored in a sharp divide among market commentators. From the bearish camp, prominent analyst Ali Martinez is convinced the bear market began after Bitcoin reached its all-time high of $126,100 in early October. Martinez describes the current phase as one of “complacency,” where investors anticipate another surge rather than actively de-risking. Conversely, bullish analyst Ash Crypto argues the bull market remains active, citing concurrent new highs in traditional safe-haven commodities like gold and silver. Ash Crypto anticipates an eventual rotation of capital from these markets into Bitcoin, setting a long-term price target of $150,000.

Thus, PlanD’s technical analysis sits at the intersection of these conflicting narratives. It provides a near-term roadmap for a price breakout while contextualizing it as a counter-trend rally within a bearish macro view held by some, even as others like Ash Crypto maintain a structurally bullish outlook. The $90,650 level now serves as a focal point where these technical and fundamental debates may be resolved, at least in the immediate term.