FX.co ★ #Bitcoin chart analysis

I see Bitcoin forming a highly complex and contradictory structure where bullish attempts continue to test the 94,135 resistance on both the H4 and daily charts, and I recognize that such repeated touches usually exhaust buyers according to the Rule of Three Touches, which is why I view each additional attempt as an early sign of weakening upward momentum. I also observe that the emerging “Bearish Triangle” on the 4-hour chart is giving me a textbook sell signal, and I interpret the currently low liquidity—barely 10–15% of typical volume—as a sign that market participants are temporarily inactive, making price movements shallow and unreliable like weekend trading until volatility returns. I consider the 83,526 level (the 38.2% Fibonacci retracement) as the first meaningful support that I expect Bitcoin to challenge if bears take control, and I treat the deeper 70,349 level (the 50% retracement) as the next critical point where a rebound north is highly probable given how other cryptocurrencies are also synchronizing their corrective phases. I believe that if Ethereum continues fulfilling the upper rectangle on the weekly chart, Bitcoin could be dragged further down to retest the 61.8% retracement around 57,100, and I acknowledge that such a move would be consistent with a broader market-wide correction rather than isolated BTC weakness. I also note that despite Monday’s drop below 84,000, I have seen Bitcoin climb back toward 93,000, and I think the U.S. session remains a key catalyst since recent macro data has consistently brought sharp volatility. I maintain that the 98,500 resistance is the next major upside target, and I expect that if the Fed meeting delivers a positive tone, I could reasonably anticipate Bitcoin extending toward 107,500 as early as next week, which is why I consider buying the main tactical option for now rather than selling prematurely.

I am currently watching the 91,775 intraday support, and I believe that as long as Bitcoin holds above this level, I should expect continued bullish attempts toward 96,811, where I will look for either a breakout or a rejection. I view the breakout and consolidation above 92,098 as a constructive signal, and even though the price is temporarily attempting to slip back under it, I still consider this zone a decisive battleground where bulls must defend momentum to avoid a fall toward 87,264. I see the failed push to 95,086 and 98,074 as unfinished business for buyers, and I think this incomplete move leaves room for another northern attempt if U.S. data provides fuel. I recognize that Monday’s decline to 83,818 created panic, but I also acknowledge that the low remained above the previous 80,590 swing low, and I interpret this as a sign that bearish structure is not yet confirmed. I think the last two days of recovery are proof that buyers are still capable of absorbing sell pressure, and I believe today’s minor pullback is unlikely to evolve into a full breakdown. I expect a fresh upward wave if labor market statistics come in favorable, and I maintain that, for now, any catastrophic collapse scenario remains postponed while structural support continues to hold.