Bitcoin has come under renewed pressure after sliding toward the $90,600 region, putting short-term sentiment back on edge. While the move has shaken weak hands, price is now approaching a critical retest zone that could determine whether this dip is merely a shakeout or the start of a deeper correction. How BTC reacts here will likely set the tone for the next directional move.
Bitcoin Slides to $90.6K As Selling Pressure Returns
According to an update by Lennaert Snyder, Bitcoin has extended its downside move, dumping toward the $90,623 level. The latest decline suggests increasing near-term weakness, with expectations that the US market opening could add further pressure and keep sentiment cautious.
Despite the volatility, Snyder emphasizes the importance of patience in such conditions, waiting for clear triggers, especially as the market navigates a fragile structure after the recent sell-off. On the bullish side, a potential scalp setup emerges if BTC manages to break the M15 market structure by reclaiming the $91,265 level. Should this occur, the initial upside target is located near the $93,377 resistance, with the monthly high serving as the ultimate objective if momentum continues to build.
From a bearish perspective, current prices are considered too low to aggressively pursue shorts. Instead, attention shifts to a possible retest of the $93,000 resistance zone, where short positions would only be considered after clear confirmation of rejection.
Looking ahead, a clean reclaim of the $93,377 resistance would signal continuation to the upside and reopen the path toward the monthly highs. However, if no bullish reversal materializes in the near term, Bitcoin may remain range-bound and gradually grind lower through the rest of the week.
Bitcoin At A Crossroads: Two Scenarios In Play
Ardi outlined two possible scenarios for Bitcoin’s next major move, both centered around the key $94,000 resistance zone. This level remains the main decision point that will determine whether the market resumes its broader upside trend or rolls over into deeper downside.
Path A suggests a bullish outcome, where price pushes back into the $94,000 resistance, breaks through with strong acceptance, and continues higher toward the $100,000+ region. In this scenario, the recent downside move would be seen as a shakeout rather than a trend reversal, clearing weak hands before continuation.
However, path B points to another potential fakeout into the $94,000 resistance, only to get rejected once again at the top of the range, followed by a breakdown below $90,000 and a liquidity sweep toward the $88,000 area before the next meaningful move develops.
Both scenarios likely involve a retest of the $94,000 zone. The key difference lies in what happens after that test, whether price acceptance confirms strength, or rejection signals another leg lower.
Featured image from Pngtree, chart from Tradingview.com
