Bitcoin has faced strong rejection around the $76,000 resistance zone, signaling that bullish momentum is beginning to fade at higher levels. With selling pressure increasing and key support levels now in focus, the market is entering a critical phase where a breakdown could start to take shape if buyers fail to regain control.

Rejection At $74,000–$76,000 Caps Bitcoin’s Momentum

Bitcoin faced a firm rejection after pushing into the $74,000–$76,000 resistance zone, highlighting strong selling pressure at the top of the range. The inability to sustain momentum above this region suggests that bulls are struggling to take full control, leaving price vulnerable to short-term pullbacks.

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According to analyst Kamile Uray, the $70,467 level on the 4-hour chart has now become a critical pivot point. As long as BTC continues to hold above this level, the structure remains supportive of further upside. 

If a breakout above resistance occurs with strong volume confirmation, Bitcoin could extend its rally toward the $79,000 level. Beyond that, $98,000 stands as the next major macro target to monitor. However, repeated rejection at resistance combined with a breakdown below $70,467 would weaken the structure and likely open the door for a move into the $68,000–$66,000 support region.

On the daily timeframe, the $65,666 level remains a crucial foundation for the broader trend. Staying above it preserves the bullish outlook in the bigger picture, but a decisive close below this level would signal growing weakness. In that scenario, BTC could revisit support zones at $63,823, $62,433, and $60,000, with a daily close under $60,000 potentially confirming a more extended bearish phase.

Bearish Engulfing Hints At Shift In Market Control

In a recent BTC update on the 4-hour timeframe, analyst Minga revealed that the price is currently ranging above the previous weekly high on lower timeframes, indicating a period of consolidation after the recent upward push. While holding above this level suggests some underlying strength, the lack of follow-through highlights growing hesitation among buyers.

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On the 4H chart, Bitcoin pushed into the upper boundary of its rising channel but was met with a strong rejection. The move was followed by a bearish engulfing candle, a pattern that often signals a shift in momentum at key resistance zones.

The first 4H candle of the new day attempted to reclaim upside momentum but ultimately closed as an inverted hammer. Such a formation typically reflects a potential continuation to the downside.

Bears are gradually stepping in and building a stronger case for a pullback. A decisive break below the $73,700 level could accelerate the move toward the lower boundary of the rising wedge. If that structure breaks to the downside, Bitcoin could extend its decline toward the monthly open region around $65,000 over the coming weeks.

Featured image from Getty Images, chart from Tradingview.com

Bitcoin price started a fresh decline below $94,000. BTC is consolidating losses and remains at risk of more losses if it dips below $91,500.

• Bitcoin started a sharp decline below $94,000 and $93,000.
• The price is trading below $93,000 and the 100 hourly Simple moving average.
• There is a bearish trend line forming with resistance at $94,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move down if it stays below the $94,000 zone.

Bitcoin Price Turns Red

Bitcoin price failed to stay above the $93,500 support and started a fresh decline. BTC declined sharply below the $93,000 and $92,500 support levels.

The bears even pushed the price below $92,000. A low was formed at $91,866, and the price is now consolidating losses. There was a minor recovery wave above the 23.6% Fib retracement level of the recent decline from the $95,475 swing high to the $91,866 low.

However, the bears remained active near $93,200. Besides, there is a bearish trend line forming with resistance at $94,600 on the hourly chart of the BTC/USD pair.

Bitcoin is now trading below $93,000 and the 100 hourly Simple moving average. If the price remains stable above $92,000, it could attempt a fresh increase. Immediate resistance is near the $92,800 level. The first key resistance is near the $93,200 level.

The next resistance could be $93,650 or the 50% Fib retracement level of the recent decline from the $95,475 swing high to the $91,866 low. A close above the $93,650 resistance might send the price further higher. In the stated case, the price could rise and test the $94,000 resistance. Any more gains might send the price toward the $94,500 level. The next barrier for the bulls could be $95,000 and $95,500.

Downside Break In BTC?

If Bitcoin fails to rise above the $93,650 resistance zone, it could start another decline. Immediate support is near the $92,000 level. The first major support is near the $91,800 level.

The next support is now near the $91,200 zone. Any more losses might send the price toward the $90,500 support in the near term. The main support sits at $90,000, 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 – $92,000, followed by $91,800.

Major Resistance Levels – $93,650 and $94,000.