Usman Salis
⬤ Bitcoin experienced notable volatility as the New York session kicked off, with prices briefly dropping into the $92,000 range before bouncing back above $93,000. The sudden move appeared to be typical intraday market action that caught some traders off guard, with prices quickly reclaiming higher levels and settling back into familiar territory.
⬤ After the initial shake-out, BTC found its footing between $93,200 and $93,500, holding onto gains despite the earlier sell-off. The chart shows a clear resistance zone just under $94,000 where Bitcoin has repeatedly struggled to break through.
⬤ Trading activity showed heightened sensitivity around the session transition, with volatility spikes marking both the early drop and the rebound that followed. Bitcoin continued building higher lows on shorter timeframes, suggesting buyers remain active even as the price approaches a critical ceiling near $94,000. Long upper wicks near resistance hint at sellers defending this level.
⬤ Bitcoin's quick recovery from the NY open dip highlights the ongoing battle between bulls pushing for continuation and sellers defending major resistance. How price reacts around the $94,000 mark could shape near-term sentiment and determine whether current volatility leads to a sustained directional move.
Usman Salis
