Bitcoin (BTC) is trading at around $93,000 at press time with a 24-hour trading volume of $91.2 billion. The asset is up 7% over the last day and 6% over the past week.<\/p>\n
After dropping below $84,000 earlier in the week, BTC reversed strongly and is now testing a key resistance area around $93,000.<\/p>\n
BTC is currently retesting the neckline of an inverse head-and-shoulders pattern on the 3-hour chart. This level \u2014 between $92,000 and $93,000 \u2014 is being watched by analysts, including Crypto Patel, who said<\/a>:<\/p>\n \u201cIf this $BTC breakout plays out, we\u2019re eyeing $105K\u2013$107K next.\u201d<\/p>\n This type of chart setup often suggests a possible trend reversal. If the price breaks and holds above the neckline, the projected move points to a target in the $105,000 to $107,000 range. That said, the breakout is not confirmed yet. The price action around the neckline will likely decide the next direction.<\/p>\n Furthermore, analyst Micha\u00ebl van de Poppe commented<\/a>,<\/p>\n \u201cIf $92K is lost, we\u2019ll probably liquidate some longs and have a relatively harsh drop.\u201d<\/p>\n He added that a move back to the $88,000\u2013$90,000 range would still fit the current trend. That zone has acted as support in the past and lines up with earlier consolidation.<\/p>\n The lower boundary of the pattern is near $82,400. If the price falls below this level, the setup would likely fail. Until then, traders expect some volatility while BTC hovers near resistance.<\/p>\n Daan Crypto Trades noted<\/a> that BTC has made a higher high and a higher low.<\/p>\n \u201cPrice did now make a higher high and higher low, so technically the market structure is back to bullish on this timeframe,\u201d he said.<\/p>\n He also pointed to $97,000\u2013$98,000 as a possible short-term target if momentum continues. Meanwhile, data from Glassnode shows<\/a> short-liquidation clusters forming, which can add buying pressure during upward moves.<\/p>\n In addition, signs of capitulation and seller exhaustion are increasing. CryptoPotato<\/em> reported<\/a> that Bitcoin may be near the bottom of the current cycle, based on recent market behavior. These conditions often appear near turning points, though timing remains uncertain. Large buybacks and short squeezes have added to recent upside momentum.<\/p>\n The post Here\u2019s Bitcoin\u2019s Next Big Target After $93K Breakout Attempt<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) is trading at around $93,000 at press time with a 24-hour trading volume of $91.2 billion. The asset is up 7% over the last day and 6% over the past week. After dropping below $84,000 earlier in the week, BTC reversed strongly and is now testing a key resistance area around $93,000. Resistance […]<\/p>\n","protected":false},"author":0,"featured_media":117520,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-117519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/117519"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=117519"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/117519\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/117520"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=117519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=117519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=117519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Structure Remains Positive on Short-Term Charts<\/h2>\n