Bitcoin is holding steady within a descending range, showing little directional conviction, while several altcoins are quietly building strength. As the market consolidates, these smaller assets could hint at early upside moves before BTC breaks out.

Key Resistance In Focus: $90,588 And The Descending Trendline

According to a recent update by Kamile Uray, there are no changes in the key levels being tracked on the daily chart, as the focus remains on the $90,588 level and the descending blue trendline. Unless BTC can close above these levels, the current decline may continue. Any upward moves below the blue descending trend are considered corrective rather than a trend reversal.

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The first support zone to monitor during the decline is between $83,822 and $82,477. A daily close below $82,477 would signal a continuation of the downtrend and could open the door toward the $74,496–$71,237 zone, marked by the blue box. This lower zone is viewed as a strong support area where buyers may step in.

Thus, a clear reversal confirmation is key before considering any significant upward move. Once confirmed, a rally toward the blue descending trendline could follow, testing resistance levels along the way.

For the uptrend to resume decisively, BTC would need to close above $90,588 and break the descending resistance. Meanwhile, a daily close above $94,130 would confirm that the blue descending trend has been broken, potentially signaling a shift to sustained bullish momentum.

LTF Moves Show Less Impulse, But Structure Holds

Crypto analyst The Penguin noted that the lower time frame (LTF) is showing slightly less impulsive action, though the overall count remains unchanged. The recent moves on the LTF appear more like noise and do not affect the broader wave count, and confidence in a leading diagonal for wave 1 remains intact.

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Putting Elliott Wave analysis aside for a moment and leaning on standard technical analysis, BTC is clearly respecting a defined range. As a result, a minor deviation toward the 0.886 level marked on the chart is being closely watched as a potential entry point.

Bullish confirmation will come if BTC manages to close and hold above $90,500, which would invalidate the current bearish scenario and signal the potential for a more sustained upward trend. Until then, the short-term fluctuations are considered normal noise, especially with the yearly open approaching.

On the altcoin side, momentum appears to be holding, suggesting potential upside. Outperformance is already visible in altcoins like XPL, indicating that while BTC consolidates, some alts are starting to push higher.

Featured image from Getty Images, chart from Tradingview.com

Bitcoin price struggled to stay above $92,000. BTC is now consolidating gains and might dip again if there is a clear move below $89,500.

• Bitcoin started a downside correction from the $92,500 zone.
• The price is trading below $91,000 and the 100 hourly Simple moving average.
• There is a contracting triangle forming with support at $90,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move up if it settles above the $92,500 zone.

Bitcoin Price Dips Again

Bitcoin price managed to stay above the $90,000 zone and started a fresh increase. BTC gained strength for a move above the $91,500 and $92,000 levels.

However, the bears were active near $92,500. A high was formed at $92,269 and the price recently corrected some gains. There was a drop below the 50% Fib retracement level of the upward move from the $87,777 swing low to the $92,269 high.

However, the bulls were active near the $90,000 support. Bitcoin is now trading below $90,000 and the 100 hourly Simple moving average. Besides, there is a contracting triangle forming with support at $90,000 on the hourly chart of the BTC/USD pair.

If the bulls remain in action, the price could attempt another increase. Immediate resistance is near the $90,800 level. The first key resistance is near the $91,200 level. The next resistance could be $92,000. A close above the $92,000 resistance might send the price further higher. In the stated case, the price could rise and test the $92,500 resistance. Any more gains might send the price toward the $93,500 level. The next barrier for the bulls could be $94,200 and $94,500.

More Losses In BTC?

If Bitcoin fails to rise above the $92,000 resistance zone, it could start another decline. Immediate support is near the $90,000 level. The first major support is near the $89,500 level and the 61.8% Fib retracement level of the upward move from the $87,777 swing low to the $92,269 high.

The next support is now near the $88,800 zone. Any more losses might send the price toward the $87,500 support in the near term. The main support sits at $86,500, below which BTC might accelerate lower in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $90,000, followed by $89,500.

Major Resistance Levels – $91,200 and $92,000.