Bitcoin is currently trading at $94,670, sitting just below a major supply zone on the 1-hour chart. Price has tested this region multiple times but failed to break higher — a potential sign of weakness setting in.
Key Technical Zones:
Supply Zone (Resistance): $94,500 – $95,250
Multiple rejections in this zone. Watch for bearish engulfing or lower highs forming.
First Support: $85,759
A key level where price previously consolidated before the last breakout.
Major Demand Zone: $75,800 – $76,000
Strong bullish reaction in the past. If price dumps, this is the most likely bounce zone.
What’s Happening?
Bulls are losing momentum at the top of the range.
LuxAlgo’s Visible Range confirms high-volume resistance above.
Possible scenario: Break below $85,759 could accelerate a drop to $76K.
My Outlook:
Leaning bearish unless BTC breaks above $95,250 with strength and volume. A rejection could provide a nice short opportunity down to $85K and possibly $76K.
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Will BTC break out or is a correction incoming?
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