19 hour ago
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Bitcoin Faces Critical $93,000–$97,000 Support Zone After Rejection
Bitcoin's Resistance and Critical Support Zones
- Bitcoin recently faced rejection at a micro-resistance zone between $99,386 and $100,972.
- This led to a lower low, reinforcing short-term bearish pressure.
- The next major support zone is around $96,000, marking the 50% retracement of a larger support box.
Potential Projections and Key Levels
- An extended projection zone is identified between $91,322 and $82,523, aligning with the broader Elliott Wave structure.
- If buyers do not show strength, Bitcoin may head towards this projected path.
Crucial Decision Zone for Bulls
- Bitcoin is currently in a critical decision zone between $93,733 and $97,595.
- Holding this area is vital to prevent further downside movement.
- If Bitcoin drops below $91,300, it could signal accelerated bearish momentum.
Key Resistance for Market Sentiment Shift
- A legitimate sign of recovery would be Bitcoin breaking and holding above $100,500.
- Anything below this level maintains a bearish market outlook.
