This chart of Bitcoin (BTC/USD) highlights a potential bearish setup forming within an established order block around the 94,000 zone. After reaching a recent high at 94,736, the price has shown signs of slowing momentum, pulling back and forming lower highs.
The chart anticipates a retest of the order block, followed by a potential continuation to the downside toward the next target at 91,366. This level coincides with a minor support zone and may serve as the next decision point for traders.
Key Technical Components:
- Order Block Resistance: Price struggles to break through supply near94K.
- Bearish Structure: Lower highs forming with projected drop.
- Target Zone: 91,366 as the next key level.
- Support Level Below: Additional demand sits near88,000 if breakdown continues.
Traders may look for confirmation of rejection near the order block to validate short opportunities, with a close below $92,200 strengthening the bearish outlook.
