Bitcoin continues to trade in a high-volatility zone, reaching an important resistance level at $95,000. The market signals potential short positions and deeper retracements.
Key Levels Under Pressure Following Rejection
Bitcoin's sharp rally from $84,000 to over $94,000 triggered strong resistance just under the $96,000 level. The price pierced into a historical sell zone and quickly reversed, forming a rejection wick that signaled aggressive profit-taking. This reaction marked a key Point of Interest (POI) for short setups.
Long-Term Structure Remains Bullish
While the short-term setup appears bearish, the long-term structure remains firmly intact. Analyst Bitcoinsensus outlined Bitcoin’s macro staircase pattern, maintaining the broader uptrend since the 2022 low.
Short-Term Strategies for Traders
Digital trader Crypto Patel's analysis identified strategic entry levels for short positions between $93,800 and $94,200 with a protective stop loss at $99,600. Targets for potential retracement are set between $90,000 and $86,000, drawing attention to support and liquidity levels.
Despite short-term corrections, outlooks on Bitcoin's long-term prospects remain optimistic. It is crucial to note that the price may still test key support levels before confirming a significant upward movement.
