Bitcoin has reaffirmed its bearish structure after a strong rejection near $98,000, indicating that sellers remain firmly in control. With key resistance values holding and momentum trending downward, traders are now shifting their focus to where the price could go next if the disadvantage continues to unfold.
Neckline rejection locks in a bearish bias
Crypto analyst Crypto Patel, in a recent after at The rejection indicates that sellers remain firmly in control, with the inability to reclaim this zone preventing a meaningful shift in momentum.
From a technical perspective, Patel noted that Bitcoin has confirmed a failed head-and-shoulders pattern, followed by a bear-flag analysis. This range reinforces the bearish outlook as price action continues to respect lower highs while grappling with key resistance. As long as BTC remains below the neckline, the broader trend remains decisively bearish.
Looking ahead, Patel emphasized that price action below the $90,000 level favors further downside continuation. Based on the measured post-crisis move, Bitcoin could slide towards the $75,000-$70,000 support area, which represents a potential decline of around 22% from current levels.
On the other hand, Patel emphasizes that a bullish bias would only return if Bitcoin manages to achieve strong recovery and adoption above $92,000. Until that happens, any upward attempts are likely to be short-lived, presenting rally opportunities rather than signs of a trend reversal.
$89,000: The Fuse for a Potential Bitcoin Short Squeeze
According to another Bitcoin after shared by Ardi, the $89,000 level stands out as a critical threshold for any potential shift in momentum. A decisive break above this zone could create short-squeeze conditions as bearish positions entering lower begin to feel pressure and cover.
He further emphasized that $90,300 remains the main gatekeeper for the market. A strong retracement and continued acceptance above this level would indicate an improvement in bullish control, allowing the price to move higher in search of the $92,000 liquidity band, where a concentration of stops and rest orders is likely to occur.
On the other hand, Ardi noted that almost $86,000 of liquidity has already been withdrawn, indicating that immediate downside targets have largely been realized. With that sweep complete, attention shifts to whether bulls can push through resistance and force late bears to exit, paving the way for a sharper upside reaction.