Bitcoin has been grinding just below a key resistance zone, marked clearly around the 95,400–95,800 region. This area has seen multiple rejections in the past, making it a strong level where sellers are actively defending. Despite this, the broader trend structure remains intact to the upside, with price respecting a higher-timeframe ascending trendline and forming higher lows.
Consolidation Structure
Current price action shows a range developing just under resistance, with signs of weakening bullish momentum in the short term. We’ve had multiple wicks into the highs, but no convincing close above. On the flip side, there’s a visible support zone around 93,000–93,800, which has previously been used to absorb liquidity and fuel moves higher. This zone is confluenced by the ascending trendline from previous swing lows, offering a clear area for a liquidity sweep.
Bullish/Bearish Scenarios
In the short term, a pullback into the green support block looks likely. This would serve two purposes: sweep out late longs and provide fresh liquidity for a stronger bullish push. A dip into this level that still respects the trendline would maintain bullish structure despite violating the local higher low.
If price holds this zone and begins forming higher lows again, we could see an impulsive move into and possibly through the resistance. A clean break and close above 95,800 would likely open the door for much higher prices, as the level has capped upside multiple times and a breakout would likely trigger stop orders and breakout buying.
Failure to hold the green zone and the trendline, however, would break the short-term bullish structure and increase the probability of a deeper retracement, possibly invalidating the breakout thesis temporarily.
Price Target and Expectations
If the resistance breaks, the path toward 105,000 remains in play. That target aligns with the macro breakout structure and continuation from the trendline, supported by higher timeframe bullish sentiment.
What do do now
Watching for a pullback into 93,000–93,800 to see if liquidity is swept and support holds. No interest in chasing price into resistance. The key is to see how price reacts at the next low and then again at 95,800. If the pullback unfolds and buyers step in with momentum, that would provide the cleanest long opportunity into new highs.
Conclusion
The market looks poised for a short-term dip to rebalance liquidity before mounting a serious attempt to break a long-standing resistance zone. As long as the trendline is respected, the bullish structure is intact, and any sweep of local lows may offer a strong risk-reward entry for continuation toward 105k.
___________________________________
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Consolidation Structure
Current price action shows a range developing just under resistance, with signs of weakening bullish momentum in the short term. We’ve had multiple wicks into the highs, but no convincing close above. On the flip side, there’s a visible support zone around 93,000–93,800, which has previously been used to absorb liquidity and fuel moves higher. This zone is confluenced by the ascending trendline from previous swing lows, offering a clear area for a liquidity sweep.
Bullish/Bearish Scenarios
In the short term, a pullback into the green support block looks likely. This would serve two purposes: sweep out late longs and provide fresh liquidity for a stronger bullish push. A dip into this level that still respects the trendline would maintain bullish structure despite violating the local higher low.
If price holds this zone and begins forming higher lows again, we could see an impulsive move into and possibly through the resistance. A clean break and close above 95,800 would likely open the door for much higher prices, as the level has capped upside multiple times and a breakout would likely trigger stop orders and breakout buying.
Failure to hold the green zone and the trendline, however, would break the short-term bullish structure and increase the probability of a deeper retracement, possibly invalidating the breakout thesis temporarily.
Price Target and Expectations
If the resistance breaks, the path toward 105,000 remains in play. That target aligns with the macro breakout structure and continuation from the trendline, supported by higher timeframe bullish sentiment.
What do do now
Watching for a pullback into 93,000–93,800 to see if liquidity is swept and support holds. No interest in chasing price into resistance. The key is to see how price reacts at the next low and then again at 95,800. If the pullback unfolds and buyers step in with momentum, that would provide the cleanest long opportunity into new highs.
Conclusion
The market looks poised for a short-term dip to rebalance liquidity before mounting a serious attempt to break a long-standing resistance zone. As long as the trendline is respected, the bullish structure is intact, and any sweep of local lows may offer a strong risk-reward entry for continuation toward 105k.
___________________________________
Thanks for your support!
If you found this idea helpful or learned something new, drop a like 👍 and leave a comment, I’d love to hear your thoughts! 🚀
Make sure to follow me for more price action insights, free indicators, and trading strategies. Let’s grow and trade smarter together! 📈
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Price is still stuck in the range, waiting for the pullback
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t.me/codeandcandle
🎁 Free trading Discord community
bit.ly/TehThomas
✅ Best exchange - 20% cashback
bit.ly/BloFin20
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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.
𝟔 𝐘𝐄𝐀𝐑𝐒 𝐄𝐗𝐏𝐄𝐑𝐈𝐄𝐍𝐂𝐄𝐃 𝐓𝐑𝐀𝐃𝐄𝐑
💎 Free Signals
t.me/codeandcandle
🎁 Free trading Discord community
bit.ly/TehThomas
✅ Best exchange - 20% cashback
bit.ly/BloFin20
💎 Free Signals
t.me/codeandcandle
🎁 Free trading Discord community
bit.ly/TehThomas
✅ Best exchange - 20% cashback
bit.ly/BloFin20
Related publications
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.