Bitcoin has had a strong rally but signs of exhaustion are emerging after price tapped into the 94k resistance zone Here's a detailed breakdown of the current 1H setup
Double Bottom Reversal The prior reversal from the 81K region was confirmed by a double bottom formation followed by a clean breakout above the trendline and a successful retest
Consolidation to Expansion Price consolidated in a tight range before breaking out sharply and entering a strong bullish phase
Current Situation BTC recently hit a key resistance at ~ 94k and is showing signs of bearish rejection The price has broken out of the previous trading range and may now revisit lower support levels
Possible Pullback Zones to Watch
88.9k First area of interest for a potential short-term bounce
86.4k and 84k Deeper retracement levels aligned with past structure
81.3k remains major support in case of a stronger correction
Outlook A pullback seems likely in the short term after the recent explosive move If BTC fails to reclaim the resistance zone we could see a retracement toward the 88K–86K area before the next directional move
Conclusion Momentum is cooling off after a strong breakout Bears may gain temporary control unless bulls reclaim 93K+ with strength Monitor lower support zones for potential long re-entry opportunities...
Double Bottom Reversal The prior reversal from the 81K region was confirmed by a double bottom formation followed by a clean breakout above the trendline and a successful retest
Consolidation to Expansion Price consolidated in a tight range before breaking out sharply and entering a strong bullish phase
Current Situation BTC recently hit a key resistance at ~ 94k and is showing signs of bearish rejection The price has broken out of the previous trading range and may now revisit lower support levels
Possible Pullback Zones to Watch
88.9k First area of interest for a potential short-term bounce
86.4k and 84k Deeper retracement levels aligned with past structure
81.3k remains major support in case of a stronger correction
Outlook A pullback seems likely in the short term after the recent explosive move If BTC fails to reclaim the resistance zone we could see a retracement toward the 88K–86K area before the next directional move
Conclusion Momentum is cooling off after a strong breakout Bears may gain temporary control unless bulls reclaim 93K+ with strength Monitor lower support zones for potential long re-entry opportunities...
Trade active
BTC/USD UpdatePrice is currently rejecting from resistance I'm watching the FVG zones closely—either we bounce off the 89.7k area or dip deeper into the 86k region before the next move up Both paths still bullish in structure
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.