BullishBanter
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#Bitcoin Price Update – Bears Tighten Grip Below $98K
Bitcoin ($BTC ) recently faced a solid rejection near the $97,895 level, which acted as a clear resistance. Since then, the price has been gradually drifting downward, printing a consistent pattern of lower highs and lower lows on the 2-hour chart. The 24H low now sits at $95,423, with BTC currently hovering around $95,560—down nearly 2.4% from its recent peak.
Looking back, BTC made several attempts to reclaim the $98,000 zone over the past few days but failed to maintain momentum. This level has now formed a local double-top pattern, signaling a weakening bullish structure. Volume remains steady, but sell-side pressure is creeping in as traders begin to lock in profits from the prior run-up.
If this trend continues, the next critical support to monitor lies near $94,270, followed by the psychological $93,000 zone. A clean breakdown below these levels may open the door for a steeper correction. However, if bulls manage to defend the $95K area with strength, we might see a short-term bounce back toward $96,500–$96,800.
For now, caution remains key. BTC is in a cooling-off phase, and until it decisively breaks above $98K with volume, the trend remains tilted in favor of the bears.
Trade here on $BTC
Bitcoin ($BTC ) recently faced a solid rejection near the $97,895 level, which acted as a clear resistance. Since then, the price has been gradually drifting downward, printing a consistent pattern of lower highs and lower lows on the 2-hour chart. The 24H low now sits at $95,423, with BTC currently hovering around $95,560—down nearly 2.4% from its recent peak.
Looking back, BTC made several attempts to reclaim the $98,000 zone over the past few days but failed to maintain momentum. This level has now formed a local double-top pattern, signaling a weakening bullish structure. Volume remains steady, but sell-side pressure is creeping in as traders begin to lock in profits from the prior run-up.
If this trend continues, the next critical support to monitor lies near $94,270, followed by the psychological $93,000 zone. A clean breakdown below these levels may open the door for a steeper correction. However, if bulls manage to defend the $95K area with strength, we might see a short-term bounce back toward $96,500–$96,800.
For now, caution remains key. BTC is in a cooling-off phase, and until it decisively breaks above $98K with volume, the trend remains tilted in favor of the bears.
Trade here on $BTC
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