Bitcoin traders warn BTC price rally may stall at $90K

Bitcoin (BTC) rallied above $89,000 on April 22, its highest level since early March, buoyed by strong spot demand during US trading hours on April 21. The recovery, however, faced a serious challenge in breaking above $90,000 as sell-side liquidity blocked the way.BTC/USD daily chart. Source: Cointelegraph/TradingViewBitcoin price faces stiff resistance on the upsideData from Cointelegraph Markets Pro and TradingView shows that the price has been steadily moving toward the $89,000 level over the last six hours, leading to questions about whether the barrier at $90,00 will finally give in.BTC/USD hourly chart. Source: Cointelegraph/TradingViewBTC is closing in on the big $ 90 K-$91 K horizontal area which acted as the previous range low, said popular trader Daan Crypto Trades in an April 22 post on X.The trader explained that the price had swept the $89,000 level as it was consolidating below it. Note that the 200-day simple moving average (SMA) is currently located just above this level, reinforcing its significance.Daan Crypto Trades said that the price needs to overcome these barriers in order to confirm a breakout.Quite a few resistances close by, but a few percentage moves and you'll break through all of them, and the chart looks pretty great. Bulls know what to do.BTC/USD daily chart. Source: Daan Crypto TradesBitcoin price breaking $91-$92K is key AnalystMeanwhile, CryptoQuants head of Research, Julio Moreno, said that the traders onchain realized price between $91,000 and $92,000 is the real test for Bitcoin bulls.Related: Bitcoin risks 10%-15% BTC price dip after key rejection near $89KAccording to Moreno, the traders realized price usually acts as resistance when the crypto market is bearish, which is the current situation of Bitcoin.Source: Julio MorenoThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.