Bitcoin Rejected at $90,000 — Is This Just a Pullback or the Start of a Deeper Correction?
Bitcoin has once again failed to convince the market at the highly psychological $90,000 level, and the rejection is sparking intense debate among traders. While bulls argue this is merely a healthy cooldown after a strong rally, technical signals suggest downside risks are far from over. Early this week, BTC briefly retested $90,000 before facing selling pressure, slipping back toward the $87,400 zone at the time of writing.
If bearish momentum persists, Bitcoin could extend its decline toward the key support at $85,569 — a critical level closely watched by analysts, as it aligns with a major Fibonacci retracement and previous demand zone. A clean breakdown below this area may trigger increased volatility and deeper downside moves.
From a momentum perspective, warning signs are already present. The RSI is hovering around 42, remaining below the neutral 50 level, indicating that bearish momentum is gradually gaining control. Although the MACD printed a bullish crossover last week, the shrinking green histogram bars suggest that buying strength is fading and lacks strong follow-through.
On the bullish scenario, Bitcoin must reclaim and close decisively above $90,000 to restore confidence. A confirmed breakout above this psychological barrier could fuel a renewed recovery, with the next upside target located near $94,253, where strong resistance is expected.
Trade Setup (Short-Term):
🔻 Sell Entry: 89,000 – 90,000
🎯 TP1: 87,400
🎯 TP2: 85,569
❌ SL: 91,200
🔺 Buy Entry (Confirmation): Daily close above 90,000
🎯 TP: 94,253
❌ SL: 87,800
Is Bitcoin shaking out weak hands — or preparing for a deeper correction?
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