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Bitcoin at a Critical Crossroads: What the Charts Are Actually Telling Us
Bitcoin is currently caught in a technical squeeze, and the signals aren’t exactly bullish. Here’s what’s happening on the chart right now:
The Current Situation: BTC is trading around 95,000, but it’s been rejected hard by every major moving average above this level. The price action tells a clear story—weak candles, no conviction, and sellers are actively defending upside attempts. The lowest point we hit was 93,955, and even that bounce fizzled.
Two Price Zones Everyone Should Watch:
Support Zone: 94,000–93,500 This is where the line gets drawn. If BTC closes below this range, we’re looking at potential extension of the downside move. This isn’t just a number—it’s where the technical structure breaks.
Resistance Zone: 97,000–98,000 This is what needs to happen for any real recovery narrative to develop. Right now, every rally into this zone gets sold into aggressively. Breaking above it would be the first sign that momentum might actually be shifting.
The Real Problem: The market lacks volume conviction. Bounces feel synthetic, lacking the buying pressure needed to sustain a move higher. Without a proper volume surge, any relief rally is just a setup for another leg down.
Bottom Line: We’re in a phase where volatility could expand in either direction, but the path of least resistance is lower until proven otherwise. Position sizing matters here—this level could determine whether we see stabilization or a sharper correction.