Bitcoin (BTC/USDT) – Daily Analysis UpdatePrice Action Recap:
Yesterday, Bitcoin was rejected near $102,500, causing a retracement to the current level around $96,000.
The inability to clear the $100,000–$102,500 resistance zone has kept BTC under short-term bearish pressure.
Key Levels to Watch:
Resistance Zones:
$100,000–$102,500: Critical level that needs to be breached to resume the uptrend.
A rejection here could attract more selling pressure and lead to additional downside testing.
Support Zones:
$91,000–$93,000: Immediate support area that bulls must defend to prevent further losses.
$85,000–$87,500: A significant horizontal support zone that coincides with prior consolidation areas and could attract strong buying interest if tested.
Market Implications:
A failure to reclaim $100,000–$102,500 would maintain downward momentum and weaken confidence in the short-term bullish case.
Altcoins are particularly vulnerable during BTC’s downward moves, as dominance often rises in such scenarios, draining liquidity from alternative assets.
Outlook:
Bullish Scenario: A decisive break and daily close above $102,500 would signal renewed strength, opening the path to retest $110,000–$112,000.
Bearish Scenario: A breakdown below $91,000–$93,000 could accelerate selling, targeting the $85,000–$87,500 zone as the next major support level.
Conclusion:
The $100,000–$102,500 resistance zone is pivotal for Bitcoin’s near-term direction. Bulls need to reclaim this range to reignite upward momentum. Failure to do so will likely result in a test of lower support zones, where a reaction will determine the broader trend.
