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Bitcoin Price Analysis: BTC Faces Rising Selling Pressure as $95K Resistance Holds

Bitcoin’s recent run appears to be losing steam, as price action encounters a decisive resistance range around the $95K psychological barrier. The market is currently showing signs of exhaustion, suggesting that a corrective phase may be on the horizon before the next potential surge toward new all-time highs.

Analisis Teknis

Grafik Harian

After staging a powerful breakout above both the 100- and 200-day moving averages last week, Bitcoin surged toward the critical $95K level. This zone represents a highly significant confluence of technical resistance, not only due to its round-number psychological relevance, but also because it aligns with prior major swing highs and order block zones.

However, as the price approached this threshold, bullish momentum faded. The chart now reflects a period of low volatility, sideways consolidation, a typical signal of indecision at strong resistance levels.

The RSI has also entered overbought territory, indicating that buyers may be exhausted in the short term. These factors point toward a potential pullback, likely toward the $90K zone where the 100- and 200-day MAs are now acting as dynamic support.

An ultimate and successful breakout would clear the path toward Bitcoin’s previous all-time high at $109K, reestablishing bullish control over the market.

Grafik 4 Jam

Zooming into the 4-hour timeframe, the technical picture further supports a likely short-term correction. After an impulsive surge, BTC’s rally has been capped at the prior swing high of $95K, forming a textbook three-drives pattern, a common bearish reversal formation that often signals smart money distribution at key levels.

Additionally, a bearish divergence between price action and the RSI suggests weakening momentum. Despite higher highs on the chart, the RSI has failed to follow suit, hinting at a slowdown in buying strength. This divergence, coupled with the presence of heavy supply around $95K, suggests that Bitcoin may enter a corrective phase.

The most probable scenario in the near term involves a retracement toward the $90K region, which now represents a structurally important support zone. If bulls defend this level effectively, it could establish a strong base for renewed bullish momentum targeting a breakout above $95K, with $109K as the next significant upside target.

On-chain Analysis

Analyzing the recent behavior of funding rates offers critical insights into the sentiment driving Bitcoin’s price action. During the prolonged correction from March to October 2024, Bitcoin’s funding rates turned negative repeatedly, even during short-lived rallies.

This trend revealed an aggressive presence of short-sellers and a clear lack of confidence among market participants, likely driven by retail traders engaging in distribution or attempting to hedge downside risk.

Now, a strikingly similar pattern is emerging. As Bitcoin recently rallied and approached the critical $95K resistance zone, the funding rates once again flipped negative. This divergence between rising prices and falling funding rates suggests that a significant portion of the market is either:

  • Hedging against potential downside risk, anticipating a bearish reversal at resistance,
  • Or engaging in distribution, selling into strength to manage exposure.

This behavioral pattern often precedes short-term pullbacks, as excessive caution or contrarian positioning can temporarily shift the demand-supply balance. Given this backdrop, a short-term bearish retracement appears likely. If historical patterns hold true, this retracement could ultimately be healthy for the broader bullish structure.

Pos Bitcoin Price Analysis: BTC Faces Rising Selling Pressure as $95K Resistance Holds muncul pertama kali di CryptoPotato.


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