Bitcoin is currently trading in a good range between short-term supply and demand, following weeks of heavy selling pressure that sent shockwaves through the broader crypto market. After losing over 29% since its January all-time high, BTC is now looking for direction. Bulls must step up and reclaim the $90,000 level to revive confidence and make sure the beginning of a recovery rally. Until then, uncertainty stays the dominant theme.

Adding to this cautious sentiment is the broader macroeconomic backdrop, with trade war fears and global financial instability weighing heavily on investor confidence. Volatility in equities and geopolitical tensions have spilled into the crypto space, making it harder for Bitcoin to ascertain a transparent trend.

Top crypto analyst Ali Martinez shared a technical evaluation on X, revealing that Bitcoin can have accomplished a classic cup-and-handle formation, topping at around $109,000. Nonetheless, this doesn’t necessarily signal further downside. As a substitute, it highlights that Bitcoin is currently with out a defined direction.

For now, Bitcoin is holding its ground, but whether the subsequent move is a breakout or a breakdown will rely on how the market responds in the times ahead.

Bitcoin Faces A Pivotal Test After 13% Rebound

Bitcoin has quietly rallied over 13% since its March 11 low near $76,600, with bulls now setting their sights on reclaiming the $88,000 level. This recent surge has brought cautious optimism to the market, however the path ahead stays uncertain. Bitcoin is currently facing a critical technical and psychological test, because it struggles to get well from a pointy downtrend that began after its January all-time high.

Investor sentiment has been mixed. Many entered 2025 with expectations of a robust bull run, but recent price motion and growing macroeconomic concerns have prompted some analysts to call for the beginning of a bear market. Based on Martinez, Bitcoin can have already accomplished a classic cup-and-handle pattern, topping out around $110,000—just $5,000 shy of the expected $115,000 goal. If this technical blueprint holds true, the present correction may simply be a part of a broader consolidation phase.

This view aligns with the concept Bitcoin must stabilize before its next major move. Bulls must defend current levels and construct momentum to push past the $90,000 barrier. Until then, BTC appears to be in a holding pattern, caught between the hope for a resumed uptrend and the fear of deeper downside risk.

BTC Price Hovers At $84K As Bulls Face Critical Resistance

Bitcoin is currently trading at $84,100 after several days of tight consolidation and slow price motion around this level. Market participants are closely watching this range, because it represents a key short-term battleground between bulls and bears. For any meaningful recovery to happen, bulls must reclaim the $87,300 level, which aligns with each the 4-hour 200-day moving average (MA) and the 4-hour 200-day exponential moving average (EMA).

A decisive move above these indicators would likely spark a renewed push toward the $90,000 level, a psychological and technical barrier that might confirm the start of a short-term bullish trend. Nonetheless, failure to reclaim $87,300 and maintain strength above $84,000 could tip the balance in favor of the bears.

If BTC loses the $84,000 support, the subsequent likely goal sits below $81,000, where lower demand zones could come into play. This could reinforce the continued uncertainty available in the market and lift the chance of a deeper correction. As traders await direction, all eyes are on BTC’s ability to reclaim momentum and flip resistance into support. The following few sessions could possibly be pivotal for Bitcoin’s short-term price structure.

Featured image from Dall-E, chart from TradingView 

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