Bitcoin May Test $90,500 After Failing to Hold Above $92,735; $94,172 Key Resistance
Bitcoin (BTC) climbed 1.41% in the past 24 hours and is trading around $90,667 at the time of the report. On the hourly chart BTC fell after a false breakout above a local resistance at $92,735; a daily close below that level could prompt a correction toward the $90,500 zone within a day. On the longer timeframe, BTC retreated following a failed attempt to sustain above the $94,172 resistance. If the situation does not improve by day-end, analysts see a higher probability of a drop to a support near $88,156 and possibly an interim test of the $85,000 area next week. Key levels to watch: upside resistance $92,735 and $94,172; downside support $90,500, $88,156 and $85,000. Primary keywords: Bitcoin price, BTC price prediction, resistance and support levels.
Bearish
The technical setup described is bearish. Bitcoin failed to sustain a breakout above local and midterm resistances ($92,735 and $94,172) and is showing signs of correction toward $90,500 and potentially lower supports ($88,156 and $85,000). False breakouts often trigger short-term selling as stop-losses above resistance are reclaimed by sellers. Short-term traders may react by reducing long exposure or taking short positions around failed-resistance levels; volatility could increase near the tested supports. Historically, failed attempts to hold above key resistances have led to multi-day corrections in BTC (examples: failed breakouts in 2021–2022 cycles that preceded pullbacks to nearby supports). For longer-term investors, this is a minor technical pullback unless macro catalysts (on-chain demand, ETF flows, regulatory shocks) change trends. Key trading actions: watch daily close relative to $92,735; set stops near the listed supports; look for confirmations (volume, candle close) before initiating new longs.