$BTC Price Update – Bears Maintain Control Below $98K
Bitcoin ($BTC ) recently encountered strong resistance around the $97,895 mark, triggering a gradual pullback. On the 2-hour chart, the price has been forming a clear downtrend of lower highs and lower lows. The 24-hour low stands at $95,423, with BTC currently trading near $95,560—roughly 2.4% off its recent high.
Over the past few days, #BTC attempted multiple breakouts above the $98,000 level but failed to sustain momentum. This zone now forms a local double-top pattern, indicating a weakening bullish outlook. Trading volume remains stable, but selling pressure is slowly rising as traders take profits from earlier gains.
Should the downward trend persist, key support levels to watch are around $94,270 and then the critical psychological level at $93,000. A clear drop below these zones could pave the way for a deeper correction. On the flip side, if bulls can firmly hold the $95K level, a short-term recovery toward the $96,500–$96,800 range is possible.
For now, caution is advised. BTC is consolidating, and unless it can decisively break above $98K with strong volume, the short-term bias continues to favor the bears.
Trade $BTC here.
