Bitcoin faces selling pressure near $90,600
Bitcoin has dropped toward the $90,600 level, putting short-term sentiment on edge. The move has shaken some traders, and now the price is approaching what analysts call a critical retest zone. This area will likely determine whether the dip is just a temporary shakeout or the beginning of a deeper correction.
According to market updates, Bitcoin extended its downside move to around $90,623. The decline suggests increasing near-term weakness, with expectations that the US market opening could add further pressure. Sentiment remains cautious as the market navigates what one analyst described as a fragile structure after the recent sell-off.
Two potential scenarios emerge
Analysts are watching two main scenarios play out, both centered around the key $94,000 resistance zone. This level remains the main decision point that will determine whether Bitcoin resumes its broader upside trend or rolls over into deeper downside territory.
The first scenario suggests a bullish outcome. In this path, price would push back into the $94,000 resistance, break through with strong acceptance, and continue higher toward the $100,000 region. If this happens, the recent downside move would be seen as a shakeout rather than a trend reversal—basically clearing out weak hands before continuation.
The second scenario points to another potential fakeout. Price might test the $94,000 resistance only to get rejected once again at the top of the range. This could be followed by a breakdown below $90,000 and a liquidity sweep toward the $88,000 area before the next meaningful move develops.
Market structure and potential triggers
Despite the volatility, some analysts emphasize patience in such conditions. They suggest waiting for clear triggers, especially as the market structure appears fragile after the recent sell-off.
On the bullish side, a potential scalp setup emerges if Bitcoin manages to break the 15-minute market structure by reclaiming the $91,265 level. Should this occur, the initial upside target is located near the $93,377 resistance, with the monthly high serving as the ultimate objective if momentum continues to build.
From a bearish perspective, current prices are considered too low to aggressively pursue short positions. Instead, attention shifts to a possible retest of the $93,000 resistance zone, where short positions would only be considered after clear confirmation of rejection.
Looking ahead, a clean reclaim of the $93,377 resistance would signal continuation to the upside and reopen the path toward the monthly highs. However, if no bullish reversal materializes in the near term, Bitcoin may remain range-bound and gradually grind lower through the rest of the week.
Both scenarios likely involve a retest of the $94,000 zone. The key difference lies in what happens after that test—whether price acceptance confirms strength, or rejection signals another leg lower. I think the next 24-48 hours will provide clearer signals about which direction Bitcoin is headed.
