Bitcoin breaks through the psychological $90,000 barrier amid post-election optimism, with the $100,000 target now within reach

Bitcoin surged past the psychological $90,000 mark in early Tuesday trading, building on Monday’s 10% rally—the largest daily gain since May 15.

Since Trump’s election victory, Bitcoin has maintained strong upward momentum, advancing 30% since the morning of November 6. The surge aligns with market expectations that a Trump administration, according to his campaign promises, would be favorable toward cryptocurrency.

Bitcoin’s rapid leap from the $80,000 milestone to $90,000 in just over a day highlights the strength of this rally, bringing the long-anticipated $100,000 target within reach—an outlook I discussed in my comments and speeches in early October.

However, overbought daily indicators suggest a possible near-term profit-taking phase, with resistance already visible near the $90,000 level. Despite this, the current bullish sentiment driven by post-election euphoria suggests that any pullbacks are likely to be shallow, setting up for further gains above $90,000.

Key support levels around $86,500 and $84,000 are expected to contain any dips, preserving the lower pivot at $80,000.

Res: 90000; 93016; 95000; 98940
Sup: 86424; 85631; 84113;  81968