Bitcoin Rejection at Resistance: Potential Drop to 94,825

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This BTC/USD 1-hour chart highlights a key resistance zone around 96,400, where price has tested and failed to break through. A rejection from this level suggests potential downside movement. If the price confirms rejection at resistance, a bearish move toward the target zone near 94,825 is likely. The overall setup indicates a possible short opportunity if resistance holds.

Resistance : Around 96,400 – 96,600
Target: 94,825

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Nice! The our analysis played out well.

Now that BTC has hit our 94,825 target, we have two potential setups:

Scenario 1: Bounce from Support (Bullish Reversal)
If 94,825 holds as support and BTC shows bullish momentum, look for a buying opportunity.
Entry: Around 94,825 – 95,000 if a strong bounce occurs.
Targets:
1st target: 96,000
2nd target: 96,400 – 96,600 (resistance zone)
If BTC breaks resistance, further upside potential exists.
Scenario 2: Break Below Support (Bearish Continuation)
If BTC breaks below 94,825 with strong selling pressure, look for a short opportunity on a retest.
Entry: After a confirmed breakdown and retest of 94,825 as resistance.
Targets:
1st target: 94,200
2nd target: 93,500