BTC Faces Rising Selling Pressure as $95K Resistance Holds
The post BTC Faces Rising Selling Pressure as $95K Resistance Holds appeared on BitcoinEthereumNews.com. Bitcoin’s recent run appears to be losing steam, as price action encounters a decisive resistance range around the $95K psychological barrier. The market is currently showing signs of exhaustion, suggesting that a corrective phase may be on the horizon before the next potential surge toward new all-time highs. Technical Analysis The Daily Chart After staging a powerful breakout above both the 100- and 200-day moving averages last week, Bitcoin surged toward the critical $95K level. This zone represents a highly significant confluence of technical resistance, not only due to its round-number psychological relevance, but also because it aligns with prior major swing highs and order block zones. However, as the price approached this threshold, bullish momentum faded. The chart now reflects a period of low volatility, sideways consolidation, a typical signal of indecision at strong resistance levels. The RSI has also entered overbought territory, indicating that buyers may be exhausted in the short term. These factors point toward a potential pullback, likely toward the $90K zone where the 100- and 200-day MAs are now acting as dynamic support. An ultimate and successful breakout would clear the path toward Bitcoin’s previous all-time high at $109K, reestablishing bullish control over the market. The 4-Hour Chart Zooming into the 4-hour timeframe, the technical picture further supports a likely short-term correction. After an impulsive surge, BTC’s rally has been capped at the prior swing high of $95K, forming a textbook three-drives pattern, a common bearish reversal formation that often signals smart money distribution at key levels. Additionally, a bearish divergence between price action and the RSI suggests weakening momentum. Despite higher highs on the chart, the RSI has failed to follow suit, hinting at a slowdown in buying strength. This divergence, coupled with the presence of heavy supply around $95K, suggests that Bitcoin may…
The post BTC Faces Rising Selling Pressure as $95K Resistance Holds appeared on BitcoinEthereumNews.com.
Bitcoin’s recent run appears to be losing steam, as price action encounters a decisive resistance range around the $95K psychological barrier. The market is currently showing signs of exhaustion, suggesting that a corrective phase may be on the horizon before the next potential surge toward new all-time highs. Technical Analysis The Daily Chart After staging a powerful breakout above both the 100- and 200-day moving averages last week, Bitcoin surged toward the critical $95K level. This zone represents a highly significant confluence of technical resistance, not only due to its round-number psychological relevance, but also because it aligns with prior major swing highs and order block zones. However, as the price approached this threshold, bullish momentum faded. The chart now reflects a period of low volatility, sideways consolidation, a typical signal of indecision at strong resistance levels. The RSI has also entered overbought territory, indicating that buyers may be exhausted in the short term. These factors point toward a potential pullback, likely toward the $90K zone where the 100- and 200-day MAs are now acting as dynamic support. An ultimate and successful breakout would clear the path toward Bitcoin’s previous all-time high at $109K, reestablishing bullish control over the market. The 4-Hour Chart Zooming into the 4-hour timeframe, the technical picture further supports a likely short-term correction. After an impulsive surge, BTC’s rally has been capped at the prior swing high of $95K, forming a textbook three-drives pattern, a common bearish reversal formation that often signals smart money distribution at key levels. Additionally, a bearish divergence between price action and the RSI suggests weakening momentum. Despite higher highs on the chart, the RSI has failed to follow suit, hinting at a slowdown in buying strength. This divergence, coupled with the presence of heavy supply around $95K, suggests that Bitcoin may…
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