Bitcoin Price May Test $93,000 Before Breaking Key Resistance
The Bitcoin price is at a critical juncture, with resistance at $95,400-$95,800 hindering its upward movement. Key points include:
- Current pressure from sellers and inability to break above $95,800 indicate potential further declines.
- A dip to $93,000-$93,800 could occur for liquidity absorption before a possible uptrend.
- Analyst TehThomas notes a liquidity sweep in this zone may maintain the bullish trend structure.
- If Bitcoin falls below $93,000, it risks breaking the bullish structure, leading to further decline.
The outcome hinges on whether Bitcoin can recover from the $93,000 level while respecting the ascending trendline.
