Saad Ullah
⬤ Bitcoin is holding inside a tight range as it approaches critical resistance near $89,000. The weekly structure looks constructive, but the daily range mean at $89K is acting as a ceiling on shorter timeframes. After a sharp drop, BTC has stabilized and is now compressing just below this key level.
⬤ Right now, Bitcoin is bouncing around inside a wide consolidation zone that formed after the recent selloff. Support sits around the mid-$80,000s, while overhead resistance is clearly marked between $95,000 and $96,000. The $89,000 level keeps rejecting upside attempts, making it the immediate barrier that needs to break for any meaningful move higher.
⬤ The path forward is pretty straightforward. If BTC breaks above $89,000 and holds it, the door opens toward $96,000 with relatively clear upside momentum. But if price gets rejected here and closes weak on the weekly chart, there's a good chance Bitcoin dips back down early next week to test lower support levels inside the range.
⬤ This consolidation matters because Bitcoin's weekly close often sets the tone for the entire crypto market. A clean breakout above resistance could fuel bullish momentum, while rejection would likely mean more sideways chop and volatility. With BTC sitting right at this pivotal $89,000 level, how price behaves here will shape near-term market direction.
Saad Ullah
