BTC Poised for a Return to $95K as Bear Market Pressure Fades

Bitcoin Eyes Potential Rebound as Sellers Struggle at Key Support

A critical technical level may be signaling a shift in Bitcoin’s price momentum.

Candlestick formations often provide a glimpse into market psychology, reflecting trader sentiment and positioning. Since Friday, at least two Bitcoin (BTC) candlesticks have shown bullish signs near multi-month lows, hinting at a potential recovery for the leading cryptocurrency.

BTC’s decline has been held in check at the 200-day simple moving average (SMA) since last Wednesday. Tuesday and Friday’s daily candles stand out, both featuring small bodies with extended lower wicks—an indication that bears pushed the price below the 200-day SMA but failed to sustain control as buyers stepped in to defend the level.

When such patterns emerge after a prolonged downtrend, they often signal seller exhaustion and the possibility of a bullish reversal. Traders frequently interpret these signals as a reduction in selling pressure, increasing the likelihood of an upside move.

Should BTC maintain support at this key level, a rebound toward Sunday’s high of around $95,000 remains on the table. A breakout above that zone could reignite bullish sentiment and open the door to a potential rally toward $100,000. However, a breakdown below the 200-day SMA could expose BTC to deeper losses.