#Bitcoin has climbed about 2.8% over the last 24 hours, trading near $92,500. The chart still shows an inverse head-and-shoulders pattern that technically points toward $109000; however, every breakout attempt has been rejected so far.
The main issues holding price back are the $93,700 resistance zone and reduced activity from large holders. Whales have been cautious since mid-November, which makes each push toward resistance softer than it could be.
Even so, the setup isn’t invalid. A possible short-squeeze remains in play. Short positions are noticeably higher than longs, meaning any solid move above the neckline could force liquidations and help price extend toward $94,900 and possibly higher levels.
The pattern remains valid while #Bitcoin holds above $83,800. Below $80,500, the structure weakens. For now, the market sits between two forces: resistance and whale hesitation, and either side could shift this picture.
