Bitcoin showed brief upward momentum in the early session yesterday, testing the $94,000 high twice but failing to effectively break through this resistance level, indicating heavy selling pressure at the top. After losing upward strength, the price entered a consolidation and pullback channel, first dropping to a low of $91,760 during the evening session. This triggered some short-term bottom-fishing, leading to a small rebound. However, the rebound momentum did not last; when the price recovered to around $93,200, it encountered resistance again. Coinciding with volatility in the US stock market, Bitcoin was affected by these external factors and started to fall again, with bearish forces further intensifying. By the early morning, the price had dropped to as low as $90,800, forming a short-term support level. Following this, market sentiment slightly improved and the price started to rebound again, reaching as high as $92,600 during this recovery. However, it failed to return to the previous key resistance area and is currently consolidating near $92,000, with buyers and sellers temporarily at a stalemate. $GT
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Bitcoin showed brief upward momentum in the early session yesterday, testing the $94,000 high twice but failing to effectively break through this resistance level, indicating heavy selling pressure at the top. After losing upward strength, the price entered a consolidation and pullback channel, first dropping to a low of $91,760 during the evening session. This triggered some short-term bottom-fishing, leading to a small rebound. However, the rebound momentum did not last; when the price recovered to around $93,200, it encountered resistance again. Coinciding with volatility in the US stock market, Bitcoin was affected by these external factors and started to fall again, with bearish forces further intensifying. By the early morning, the price had dropped to as low as $90,800, forming a short-term support level. Following this, market sentiment slightly improved and the price started to rebound again, reaching as high as $92,600 during this recovery. However, it failed to return to the previous key resistance area and is currently consolidating near $92,000, with buyers and sellers temporarily at a stalemate. $GT