Solana News

Bitcoin finds itself at a critical crossroads, hovering between two major price zones that could define its next big move. Buyers and sellers are locked in a tight battle, and the market now waits for a decisive break. A push above key resistance could open the door to $107,000, while weakness at support risks a deeper slide toward $71,000. Bounce Scenario: A Return Toward The Pink Box And Descending Trendline Kamile Uray, in her latest update on Bitcoin, noted that BTC failed to hold above the $90,720 level on the hourly chart, triggering the expected decline. The first immediate support now sits at $87,644, while the deeper support range lies between $83,822 and $82,477. If buyers defend this zone successfully, Bitcoin could attempt another climb toward the pink box region and retest the descending trendline overhead. Related Reading: Bitcoin Market Structure Echoes 2022 Bear Start, Glassnode Warns Uray explained that a sustained move above the pink box resistance on the daily timeframe would open the door for Bitcoin to challenge the descending blue trendline. A confirmed breakout from this area could strengthen bullish momentum, pushing the price toward the next major resistance levels at $98,200 and $107,500. A break above $107,500 alongside the descending trendline would serve as a strong signal that the broader uptrend is ready to continue. However, she warned that a daily close below $82,477 would shift the market structure toward further weakness, placing Bitcoin at risk of revisiting lower levels. Even so, Uray highlighted one critical area of strength: the $74,496-$71,237 zone. This region represents the key breakout top from November 2024 and is considered a strong historical support. In this area, buyers may step in aggressively, potentially setting the stage for an upward reversal. Bitcoin Price Rejection At $93,000-$95,000 Zone According to Crypto Candy, Bitcoin's latest price action has been unfolding precisely in line with expectations. After facing rejection in the $93,000-$95,000 resistance zone, BTC dipped sharply and nearly touched the anticipated support range at $86,000-$87,500. This move reflects the broader market's reaction to heavy selling pressure near the upper resistance band. Related Reading: Reversal Loading? Bitcoin, Ethereum, And Solana Build Powerful High-Time-Frame Structures Crypto Candy emphasized that the $86,000-$87,500 zone now serves as a crucial pivot area. If buyers successfully defend this support and the price stabilizes above it, Bitcoin could once again revisit the $93,000-$95,000 range, or even push beyond it. Such a rebound would signal renewed bullish momentum and set the stage for another attempt at breaking higher resistance levels. However, the analyst also warned that failure to hold the $86,000-$87,500 support could trigger deeper downside movement. If the level gives way, Bitcoin may slide to lower price zones in the coming days as bearish pressure strengthens. Featured image from Pixabay, chart from Tradingview.com