Bitcoin must close above $89K to confirm uptrend, analyst says

Crypto analyst Matthew Hyland said Bitcoin (BTC) must close the week above $89,000 to signal the end of its short-term downtrend, Cointelegraph reported. In a video posted on X on March 13, Hyland explained that a weekly close above $89,000 would confirm the bottom, while failing to reclaim this level could send BTC down to the $69,000–$74,000 range. BTC last traded at $89,000 on March 7, a key support level before dropping to $78,523 on March 11 and stabilizing in the low $80,000s. Hyland noted that closing above $89,000 would strengthen BTC’s uptrend, while breaking below could signal further downside. He added that surpassing resistance typically leads to more upside.