Bitcoin is once again testing a critical level that could shape its next major move. With price action returning to a previously contested support and resistance zone, attention is now shifting toward a defined set of upside targets that could come into play if the level continues to hold.

Bitcoin’s S/R Zone Retest Signals Strength In Market Structure

According to market technician Johnathan Carter, Bitcoin’s weekly chart is currently revisiting a key zone that previously acted as resistance before being broken. That same level is now functioning as support, marking a classic support/resistance flip.

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The chart he posted shows that Bitcoin’s price has pulled back into this zone after a strong upward expansion, with buyers stepping in to defend it. This reaction is not occurring randomly. The highlighted region, positioned around the mid-$60,000 range, aligns with a former breakout area, reinforcing its technical importance.

The analyst’s observation centers on the idea that this retest is a structural confirmation. The ability of bulls to maintain price above this level suggests that the breakout remains valid and that the broader upward trend is intact.

Further supporting this outlook is the large inverse head and shoulders pattern visible on the weekly timeframe. This formation reflects a transition from bearish to bullish control.

The neckline of this pattern coincides closely with the current S/R zone, making the ongoing retest even more significant. After breaking above this neckline, Bitcoin advanced sharply before pulling back to retest it. The chart also illustrates a rounded retest structure, indicating a controlled pullback. This type of price action often points to accumulation, where buyers gradually regain control without allowing the price to break lower.

Four Key Price Targets Come Into Focus

With the support zone holding and the retest developing constructively, attention shifts to the next potential price objectives outlined by the analyst. The first level to monitor is $95,000, which represents a near-term resistance area based on recent price structure. A move into this region would confirm continuation from the current base.

Beyond that, $125,000 stands as the next target, aligning with a previous consolidation range seen during Bitcoin’s earlier rally phase. Clearing this level would signal sustained bullish momentum. The third target is $150,000, a psychological and structural milestone that reflects an extension of the current trend. At this stage, market participation typically increases as momentum builds.

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Finally, the long-term objective sits at $200,000. This level represents a full realization of the projected move following the inverse head and shoulders breakout, as illustrated by the trajectory on the chart.

The current price behavior suggests that the market is in the process of confirming the breakout. With buyers actively defending the retested zone and no clear breakdown in structure, the bullish framework remains in place. As long as this support holds, the path toward higher levels remains open, keeping all four targets—$95,000, $125,000, $150,000, and $200,000—firmly in focus.

Featured image created with Dall.E, chart from Tradingview.com

Bitcoin price attempted to start a fresh increase but failed at $89,500. BTC is now struggling below $86,500 and might continue to move down.

• Bitcoin started a fresh decline below the $86,500 zone.
• The price is trading below $86,500 and the 100 hourly Simple moving average.
• There was a break below a bullish trend line with support at $87,250 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair might continue to move down if it settles below the $85,000 zone.

Bitcoin Price Dips Again

Bitcoin price attempted a fresh recovery wave above $88,000 and $88,500. BTC tested the $89,500 resistance zone and reacted to the downside. There was a sharp decline below $88,000.

There was a break below a bullish trend line with support at $87,250 on the hourly chart of the BTC/USD pair. The price even spiked below the $85,000 support. However, the bulls were active near the $84,500 zone. A low was formed at $84,421 and the price is now consolidating losses below the 23.6% Fib retracement level of the downward move from the $89,437 swing high to the $84,421 low.

Bitcoin is now trading below $87,000 and the 100 hourly Simple moving average. If the bulls remain in action, the price could attempt more gains. Immediate resistance is near the $86,600 level. The first key resistance is near the $87,000 level and the 50% Fib retracement level of the downward move from the $89,437 swing high to the $84,421 low.

The next resistance could be $88,000. A close above the $88,000 resistance might send the price further higher. In the stated case, the price could rise and test the $88,800 resistance. Any more gains might send the price toward the $89,500 level. The next barrier for the bulls could be $90,000 and $90,500.

More Losses In BTC?

If Bitcoin fails to rise above the $87,000 resistance zone, it could start another decline. Immediate support is near the $85,000 level. The first major support is near the $84,500 level.

The next support is now near the $83,200 zone. Any more losses might send the price toward the $82,500 support in the near term. The main support sits at $80,500, 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 – $85,000, followed by $84,500.

Major Resistance Levels – $87,000 and $88,000.

Key takeaways

• Stellar’s XLM is down 3.4% and is now trading around $0.22.
• Derivatives data signals a bearish positional buildup, with further downside expected in the near term.

XLM derivatives suggest further bearish price action

Stellar (XLM) is trading in the red zone for the seventh consecutive day, losing 3.4% of its value in the last 24 hours. The bearish performance comes as the broader cryptocurrency market is bleeding, with XLM now expected to retest the April low in the near term. 

XLM’s derivatives data shows that the bearish trend could grow thicker. Data obtained from CoinGlass shows that XLM futures Open Interest (OI) is in a largely declining trend, at $118.43 million, down from $124.72 million recorded yesterday. 

The declining OI suggests a decline in the notional value of XLM futures, with the total value of all active positions (long and short) currently on the decline. 

With XLM declining,  long liquidations over the last 24 hours totaled $406,740, outpacing short liquidations of $6,040. The long-to-short ratio chart shows that short positions increased to 53.37% today, up from 50.57% recorded on Monday. 

XLM could decline below the $0.20 psychological level

The XLM/USD 4-hour chart is bearish and inefficient as Stellar has underperformed over the last seven days. The coin is currently trading at $0.222, retesting the June low of $0.217.

If the bearish trend continues, XLM could drop below the $0.2001 level marked by the April 7 low. An extended bearish trend could see the cross-border remittance token aim for the support at $0.1642, followed by the annual low of $0.1600. 

Currently, the technical indicators are bearish, suggesting that sellers are in control. The Relative Strength Index (RSI) is at 35, pointing toward the oversold zone. Furthermore, the Moving Average Convergence Divergence (MACD) is falling steeply after crossing below the signal line a few hours ago.

However, if the bulls regain control, XLM could flip the bearish narrative and retest the $0.2579 support-turned-resistance.

Key takeaways

• XRP is down 1% in the last 24 hours and is trading at $1.99.
• Failure to defend the $1.96 support could see XRP dip lower.

XRP drops below $2

The cryptocurrency market has underperformed over the past few days, with Bitcoin and other major coins currently in the red. Bitcoin, the leading cryptocurrency by market cap, has dropped below $90k and could retest lower levels if the bearish trend continues.

XRP, the native coin of the Ripple blockchain, is also in the red zone, after losing 1% of its value in the last 24 hours. The bearish performance means that XRP was unable to defend the $2.0 psychological level, as it is now trading at $1.99.

The bulls will now be forced to defend the $1.96 suppport level as failure to do so could see XRP record massive losses over the next few days. Currently, the market is still consolidating, with no clear direction in sight. 

XRP could extend its decline if bulls fail to defend the $1.96 support

The XRP/USD 4-hour chart is bearish and inefficient, with the inefficiency caused by the October 11 deleveraging event. Since then, XRP has failed to rally to the $2.7 level to gain efficiency. 

The cryptocurrency lost 3.22% of its value last week, making it the second consecutive week of losses. At press time, XRP hovers around $1.99.

If XRP fails to recover and closes the daily candle below the $1.96 support, it could extend the decline toward the next daily support at $1.77.

The RSI on the 4-hour chart is 41, below its neutral level of 50, indicating that bearish momentum is gaining traction. The MACD lines are also converging, adding more confluence to the consolidating market condition. 

On the flip side, if XRP stays above the $1.96 daily support, it could extend the rally toward the next daily resistance at $2.35.