Bitcoin is currently at a pivotal point, hovering between two significant price zones that will likely determine its next major move. The ongoing battle between buyers and sellers has the market eagerly awaiting a decisive break. If Bitcoin price manages to push above the key resistance, it could open the door to a potential high of $107,000. Conversely, weakness at the support level risks a deeper slide toward $71,000, underscoring the importance of this current price action in the cryptocurrency market.
Potential Bounce Scenario: Revisiting The Pink Box And Descending Trendline
In her latest Bitcoin analysis, Kamile Uray noted that BTC failed to maintain its position above the $90,720 level on the hourly chart, triggering the anticipated price decline. The first immediate support is now situated at $87,644, with a deeper support range between $83,822 and $82,477. If buyers successfully defend this zone, Bitcoin could attempt another climb toward the pink box region and retest the descending trendline overhead, potentially setting the stage for a bullish reversal.
Uray explained that a sustained move above the pink box resistance on the daily timeframe would pave the way for Bitcoin to challenge the descending blue trendline. A confirmed breakout from this area could significantly strengthen bullish momentum, pushing the price toward the next major resistance levels at $98,200 and $107,500. A break above $107,500 alongside the descending trendline would serve as a strong signal that the broader uptrend is ready to continue, potentially leading to a new high for the cryptocurrency.
However, she warned that a daily close below $82,477 would shift the market structure toward further weakness, placing Bitcoin at risk of revisiting lower levels. Even so, Uray highlighted one critical area of strength: the $74,496–$71,237 zone. This region represents the key breakout top from November 2024 and is considered a strong historical support level. In this area, buyers may step in aggressively, potentially setting the stage for an upward reversal in the Bitcoin price.
Bitcoin Price Faces Rejection At $93,000–$95,000 Zone
According to Crypto Candy, Bitcoin’s latest price action has been unfolding precisely in line with expectations. After facing rejection in the $93,000–$95,000 resistance zone, BTC dipped sharply and nearly touched the anticipated support range at $86,000–$87,500. This move reflects the broader market’s reaction to heavy selling pressure near the upper resistance band, a common phenomenon in the cryptocurrency market.
Crypto Candy emphasized that the $86,000–$87,500 zone now serves as a crucial pivot area. 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 push beyond it, potentially leading to a bullish breakout.
Such a rebound would signal renewed bullish momentum and set the stage for another attempt at breaking higher resistance levels. However, the analyst also warned that failure to hold the $86,000–$87,500 support could trigger deeper downside movement. If the level gives way, Bitcoin may slide to lower price zones in the coming days as bearish pressure strengthens, leading to a potential bear market.
Featured image from Pixabay, chart from Tradingview.com
