Bitcoin has staged an impressive rebound after briefly touching $89,000, marking what now appears to be a short-term local low. The strong reaction from buyers at this level suggests that liquidity was successfully absorbed and that bulls are regaining control of the immediate market structure. Momentum has shifted upward for the first time in days, and the charts are beginning to show early signs of a constructive short-term trend.
With this recovery underway, Bitcoin now looks positioned to test the next key level at $98,000, which stands as the immediate short-term target. This zone is important both psychologically and technically, acting as the first real hurdle that will reveal how strong this rebound truly is. A clean move into the 97.5K–98K range would confirm continued bullish pressure and validate the current uptrend, at least on lower timeframes.
However, the true test begins after we reach the 98K region. This is where traders need to pause and re-evaluate. How price reacts there — rejection or breakout — will determine whether this recovery evolves into a more sustained trend or remains a simple relief rally within a larger downtrend. For now, momentum favors the bulls, but discipline remains key. At 98K, the next chapter of the market will become clear.
Add comment
Comments