$BTC has just arrived at the vital stage of $92,00093,000 but was decisively rejected, and this is evidence that the market is yet to overcome this significant obstacle.

This level has served as powerful ceiling on a number of occasions portraying that buyers require greater strength to be pushed higher.

Currently, the next major support of about 88,000 is the focus. This area is very crucial since retest here may define the short term orientation of $BTC .

In case the buyers can justify this level, then this would be an indication of the healthy market structure and rejuvenated bullish momentum.

$BTC could have the impetus required to take the next step on its way up, should the $88,000 support succeed. High bounce of the same would portray that the bullish sentiment still persists and it might be a stepping stone towards another peak to go past the 93,000 resistance. At this stage, the market is still at a critical stage of consolidation awaiting a decisive action.