Bitcoin has come under pressure again after falling to the $90,600 region, putting short-term sentiment back on edge. While this move has shaken weak hands, the price is now approaching a critical retest zone that could determine whether this dip is just a shakeout or the start of a deeper correction. How BTC responds here will likely set the tone for the next directional step.
Bitcoin falls to $90.6K as selling pressure returns
According to one update by Lennaert Snyder Bitcoin has continued its downward movement and has fallen towards the $90,623 level. The latest decline signals increasing short-term weakness, with expectations that US market opening could further increase and sustain pressure sentiment carefully.
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Despite the inconstancySnyder emphasizes the importance of patience in such circumstances while waiting for clear triggers, especially as the market navigates a fragile structure after the recent sell-off. On the bullish side, a potential scalp setup emerges if BTC manages to break the M15 market structure by regaining the $91,265 level. Should this happen, the initial upside target is near resistance at $93,377, with the monthly high serving as the final target if momentum continues to build.
From one bearish From this perspective, current prices are considered too low to short aggressively. Instead, attention shifts to a possible retest of the $93,000 resistance zone, where short positions will only be considered after a clear confirmation of the rejection.
Looking ahead, a clean recovery of the resistance at $93,377 would mean a continuation of the uptrend and reopen the path to the monthly highs. However, if a bullish reversal does not occur in the near term, Bitcoin could remain range-bound and gradually move lower for the rest of the week.
Bitcoin at a Crossroads: Two Scenarios in Play
Ardi outlined two possible scenarios for Bitcoin’s next big move, both centered around the key resistance zone at $94,000. This level remains the key decision point that will determine whether the market resumes its broader uptrend or rolls over into a deeper downtrend.
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Path A suggests a bullish outcome, with price pushing back into the $94,000 resistance, breaking through with strong acceptance and continuing higher towards the $100,000+ region. In this scenario, the recent downward move would be seen as a shakeout rather than a trend reversal, clearing weak hands before moving forward.
However, Path B points to another potential breakout at the $94,000 resistance, but is rejected again at the top of the range, followed by a breakdown below $90,000 and a liquidity move towards $88,000 before the next meaningful move develops.
Both scenarios likely include a retest of the $94,000 zone. The key difference lies in what happens after that test: whether the price acceptance confirms the strength, or whether the rejection signals another leg lower.
Featured image of Pngtree, chart from Tradingview.com