$BTC has recently bounced back at the $92,000 support level, but this could just be a technical rebound. The correction phase doesn’t seem to be over yet because:
Sudden Selling Pressure on the 3D Chart
On the 3-day (3D) chart (see chart 👇), after 18 days of low trading volume, a large red candle suddenly appeared with a significant spike in trading volume. This indicates strong selling pressure entering the market, most likely from Market Makers. Such selling activity often signals a potential continuation of downward pressure.
2 Possible Scenarios Ahead
Scenario 1 (60% chance): $BTC drops further to the key support level at $87,000. This is a strong support zone that aligns with the 0.382 Fibonacci and could act as the next stopping point.
Scenario 2 (40% chance): $BTC trades sideways around $92,000 to absorb the selling pressure. After some consolidation, it might have a chance to reverse upward.
⭐What To Do Now⭐
At this point, BTC hasn’t shown any clear signs of an immediate rebound. The best approach is to focus on risk management and avoid entering new trades (for both BTC and Altcoins). Waiting for clear signals of a bottom formation before making a move is a safer choice.
The market is currently in a sensitive state. I’ll provide updates as soon as there are signs of a bottom or any unexpected major moves.
