Bitcoin It finds itself at a crucial crossroads, hovering between two key price zones that could determine its next big move. Buyers and sellers are locked in an intense battle, and the market is now waiting for a decisive breakout. A break above key resistance could open the door to $107,000, while weakness at support threatens a deeper drop towards $71,000.
Bounce scenario: a return towards the pink box and the downward trend line
Camille Ouray in her latest work to update On Bitcoin, he noted that BTC failed to hold above the $90,720 level on the hourly chart, triggering the expected rally. decrease. The first immediate support now lies at $87,644, while the deeper support range lies between $83,822 and $82,477. If buyers succeed in defending this area, Bitcoin may try to climb back towards the pink box area and retest the downtrend line.
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Ouray explained that a sustained move above the pink box resistance on the daily time frame will open the door for Bitcoin to challenge the bearish blue trend line. A confirmed breakout from this area could enhance the bullish momentum, pushing the price towards the next major pair Resistance levels Priced at $98,200 and $107,500. A break above $107,500 along with the downtrend line would be a strong signal that the broader uptrend is ready to continue.
However, it warned that a daily close below $82,477 would change the trend Market structure Toward further weakness, which exposes Bitcoin to the risk of reconsidering lower levels. However, Ouray highlighted one important area of strength: the $74,496-$71,237 area. This area represents the major breakout high from November 2024 and is considered strong historical support. In this area, buyers may intervene aggressively, paving the way for a rally reverse.
Bitcoin price rejected at $93,000-$95,000 area
According to As for Crypto Candy, Bitcoin’s latest price action is unfolding precisely in line with expectations. After facing rejection at the $93,000-$95,000 resistance zone, Bitcoin fell sharply and almost touched the expected support range at $86,000-$87,500. The move reflects the broader market’s reaction to the heavy hit sale Pressure near the upper resistance band.
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Crypto Candy emphasized that the $86,000-$87,500 area is now acting as a crucial pivot zone. If buyers successfully defend this support and the price stabilizes above it, Bitcoin could once again revisit the $93,000-$95,000 range, or even surpass it.
like this recovery It would signal renewed bullish momentum and pave the way for another attempt to break the higher resistance levels. However, the analyst also warned against failing to hold $86,000-$87,500 supports It could lead to a deeper downward movement. If the level capitulates, Bitcoin could slide into lower price areas in the coming days as downward pressure intensifies.
Featured image from Pixabay, chart from Tradingview.com
