Swissblock notes the weakening spot demand for BTC right at the annual opening level ($93,000).

What's happening now:

- The chart shows that buyers have tried several times to push the price up, but each impulse is absorbed.

- The entire zone 90,000-93,000$ is turning into "sticky resistance": money enters hesitantly, demand crumbles, and bulls cannot maintain pressure.

This is very important right now because #BTC is at a point where the trend structure for the coming weeks is being determined. Staying above - the recovery scenario remains in play. Losing it - the market returns to a phase of weakness.

It is critically important for bulls to keep the price above $90,000. Holding above restores the buyer's structure and relieves pressure. If we drop below 90,500-91,500$ - the bearish scenario is activated.

Swissblock identifies the next turning point at 88,500$ - there will again be a check to see if there is live demand. So far, demand has manifested. But it's important to hold the level.

For now, one can conclude - there is momentum, but it is fragile. Without confident spot trading, upward movement will constantly be disrupted. Entry points in the spot market are currently weak. Traders are waiting for confirmation of strength, a noticeable drop. The market is in a phase of indecision.