Price is holding a descending trendline while RSI prints higher lows. Momentum is weak, but selling pressure is slowing. A break of structure changes everything. Patience here is key
Following its recent sell-off, Bitcoin $BTC entered a corrective phase and managed to rally up to the $91,200 area, where it faced strong selling pressure and got rejected. After this rejection, price broke below its ascending trendline and is now trading beneath it, signaling a weakening bullish structure.
Key Resistance Zone: The $92,000 – $93,000 area acted as a major resistance and it has capped price action and as long as Bitcoin remains below this zone, the bearish scenario remains favored.
Key Support Zone: The important key support level that was sitting at $84,000 - 85,00 has been be broken and we already had a daily candle closed below it and now if we fail to get back above the $84k- $85k level in the next 1 -2 days, this will open door for $77k - $72k level which is currently acting as liquidation price on the Bitcoin monthly liquidation heat map
What’s your take? Will the $84k - $85k be reclaimed? Or we are taking the liquidity at the $72k level?
I made this Analysis on my YouTube channel video which I have also uploaded here.
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Potential reversal here, but not trying to catch falling knives here as it might just dump more, so wanna see reclaim and trigger as confirmation before risking anything… let’s wait and see. $BTC
Well, here’s why I think the next move for BTC could be bullish.
On the green arrow, you can clearly see that BTC closed a key GAP level, which usually gives a strong reaction and we already saw that bounce.
On the yellow arrow, there is still liquidity left behind and an unfinished fill around the 95k area. That liquidity often gets targeted before the next bigger move.
Now the final indicator for me: If BTC closes the Daily candle above 90k, it breaks a major resistance (orange line). That’s the level that needs to flip to unlock bullish continuation.
Orderflow also supports this idea there are a lot of open Short positions stacked in that low region, which could easily lead to a squeeze if price starts pushing upward.
For now, the main focus is simple: The Daily Close above 90k or not.