Bitcoin forecast: Psychological barriers Reaching 90,000 amid the post-election frenzy - 100,000 goal within reach

In continuation of Monday's 10% surge—the largest daily increase since May 15—Bitcoin broke above the psychological 90,000 mark in early Tuesday trade.

As demand skyrocketed on predictions that Trump's government would be crypto-friendly according to campaign pledges, Bitcoin has remained in a sharp bullish acceleration after Trump's election win, advancing 30% since Nov 6 morning.

The fact that Bitcoin went from 80K to 90K in less than 24 hours is indicative of the recent rally's power and begins to give credence to predictions that the cryptocurrency will assault the psychological 100K objective that I mentioned in my remarks and speeches back in early October.

Meanwhile, overbought daily studies indicate that traders can reap some benefits from the recent robust advance, even if headwinds are already visible around the 90K zone.

With bullish sentiment still high and elation around Trump's triumph, any corrective movements will likely be minor and serve as a stepping stone to breaking beyond 90,000.

The ideal situation would be for the lower pivot at 80K to remain intact and for solid supports around 86500 / 84000 zone to prevent declines.

Results: 90000, 93016, 95000, and 98940. Support: 86424, 85631, 84113, and 81968.

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