Bitcoin just closed its daily candle around 90.2K, with the FGI index at 23 (extreme fear). Another dump occurred yesterday, but neither the PDH nor the PDL have been touched yet.

What’s next for BTC?

As you can see,BTC is currently still held back at the daily order block, which is a strong resistance area. The price has tried to rise several times but has consistently been pushed back down, with candle bodies consistently closing within that OB area.

As long as this daily OB hasn't been clearly broken through, BTC's market structure remains bearish, although early signs of a potential rebound have started to appear. Additionally, DXY retraced slightly upward last night, and as usual, its movement tends to be inversely correlated with BTC, so BTC was pushed back down again.

From a liquidity perspective, sensitive areas that might be approached are:

Upper side: PDH around 92.7K

Lower side: PDL around 89.4K

Personally, I’m already seeing early signs of a bounce. My daily bias: slightly bullish.

If a bullish scenario does play out, I’d prefer to wait for price to sweep the old low first before looking for opportunities targeting liquidity above.

Also a reminder: today is the weekend — the US market is closed, DXY charts are paused, so market movements could be more random than usual.

Happy weekend, everyone. Stay safe.