Bitcoin Faces Critical Resistance: Analysts Predict Potential Drop to $89,000

According to recent reports from COINOTAG News on May 5th, financial analysts are closely monitoring Bitcoin’s current market position. FxPro analyst Alex Kuptsikevich has highlighted the cryptocurrency’s return to a critical **resistance level**, previously serving as support from December to February. The market sentiment indicates potential **downside targets** at **$92,500** and **$89,000**. A drop below **$90,000** could pose significant risks, not just from a **technical** standpoint but also on a **psychological** level for investors. This scenario would further breach the **200-day moving average**, signaling a bearish trend. Investors are advised to proceed with caution, as these levels may influence trading strategies and market momentum in the near future.