Bitcoin Stuck Between the Resistance Zone, But Bears Are Still Slightly Ahead
Bitcoin $BTC is currently in a rather uncomfortable state for short-term traders: the 65,000–66,000 USD range shows that selling pressure is no longer too strong, but at the same time, buying pressure has not yet appeared clearly enough to create confidence for a sustainable reversal.
In other words, the market is lacking momentum in both directions, making the short-term trend ambiguous and difficult to predict.
The notable point is that although the sellers have weakened compared to the previous period, the current price action structure still shows that the bearish side has a slight advantage. The price has not reacted strongly enough to confirm that the buyers are ready to defend this area.
In this context, the market is very likely to fall into a choppy state and then suddenly choose a direction when there is an important candle close on the daily frame.
The scenario to watch right now is quite clear. If Bitcoin shows a 1D candle closing below the 64,000 USD mark, selling pressure may increase significantly and open up the possibility for the price to return to test the 40,000–42,000 USD range in the medium term.
On the contrary, if there is a strong daily candle closing above 75,000 USD, it will be a signal that the buyers have regained control, with the next targets around 85,000 USD and further at 94,000 USD.
Currently, this is still an area that needs more observation rather than rushing to conclusions.
#BTC
