Saad Ullah
⬤ Bitcoin's locked into a tight consolidation phase right now, hanging around the $89,300 mark after pulling back from higher levels. Buyers have been stepping up to defend this zone, keeping price from sliding further and basically turning this level into a solid floor. You can see it clearly on the 12-hour chart—BTC keeps bouncing off the same spot.
⬤ Here's the thing: that support area around $89,000 has held up through multiple tests. Every time price dips close to that level, buyers show up and push back. But there's resistance overhead too, capping any rally attempts and keeping BTC stuck in a narrowing range between these two boundaries.
Buyers stepped in to defend this zone, preventing further downside and keeping price anchored around a well-defined horizontal support level.
⬤ The support and resistance levels are getting closer together, which means volatility's dropping and neither bulls nor bears are really in control yet. Both sides react fast whenever BTC approaches these key levels. This compression is typical before Bitcoin makes its next significant move—either breaking out higher or dropping through support.
⬤ When Bitcoin gets squeezed like this, it usually doesn't last forever. A clean break above resistance could kick off fresh upside momentum, while losing that $89K support would open the door to more downside. Right now, BTC's range-bound, but the setup suggests a bigger move is coming as the pressure keeps building.
Saad Ullah
