4 min readWelcome to today’s technical market update on Bitcoin.
Bitcoin continues to struggle with the high timeframe resistance zone, with the upper boundary marked around $94,000. Price has been consolidating below this level, and so far, we’ve yet to see a clean breakout.
However, buyers stepped in strongly yesterday, invalidating the head and shoulders pattern we outlined in the previous update. That rejection of the bearish pattern may now hint at a potential shift in sentiment, even though resistance continues to weigh heavily on price.
Let’s zoom into the lower timeframes to evaluate the current intraday levels, and see whether we’re dealing with distribution just below resistance, or perhaps a re-accumulation phase preparing for a fresh breakout.
Looking at the 1-hour chart, we can clearly see that the previously discussed head and shoulders pattern has been invalidated. While there was an initial dip to the $91,700 level—a key support outlined in yesterday’s report—buyers stepped in quickly, and price has since stabilized.
What we’re seeing now is a developing range-bound structure, and the big question becomes:
Is this a distribution range forming just below high timeframe resistance, or are we witnessing a re-accumulation zone in preparation for another leg higher?
With the range now clearly defined:
- Range Lows: ~$91,700
- Range Highs: ~$94,700
A break below the range lows could reintroduce bearish pressure and signal a deeper correction.
Conversely, a break above $94,700 would mark a clean breakout and could trigger a new wave of bullish momentum above this multi-session consolidation.
With traditional markets closed over the weekend, it’s worth keeping a close eye on these levels, as crypto continues to trade 24/7 and weekend volatility has the potential to shape the early-week structure ahead.
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