Usman Salis
⬤ Bitcoin has reached a crucial technical juncture, with BTC/USD holding steady above a support level that previously acted as resistance. The cryptocurrency is trading above $95,000 after a powerful upward move from the low-$90,000 range. This support zone, which flipped from resistance during the recent rally, is now being defended by buyers—a sign that the market is absorbing selling pressure rather than breaking down.
⬤ The price chart reveals a sharp climb followed by sideways movement just below recent peaks near $98,000. Instead of rejecting lower, Bitcoin has been consolidating above the reclaimed support area, suggesting market balance. Candlestick patterns show buyers stepping in to defend this level, preventing any meaningful breakdown. This behavior typically indicates strength after an impulsive advance.
⬤ As long as BTC stays above this $95,000 zone, the technical setup favors continuation toward the upside. "This former resistance level now serves as a key reference point for market structure," noted the analyst. The primary target remains a retest of the $98,000 highs. A clean hold followed by renewed momentum would confirm bullish strength, while a breakdown below support would shift focus to deeper consolidation levels.
⬤ This matters beyond Bitcoin itself—BTC often sets the tone for the broader crypto market. When Bitcoin consolidates above reclaimed resistance after a strong move, it typically signals underlying strength. The question now is whether enough momentum can build for another push toward the highs, or if more sideways action is needed before the next directional move takes shape.
Usman Salis
