BTCUSDT: Holds Demand - Retest of 90,300 Resistance Likely

[lingriiddd]

Hello everyone, here is my breakdown of the current BTCUSDT setup.

Market Analysis

BTCUSDT recently transitioned from a strong downward channel into a broader bullish recovery phase. After a prolonged bearish move, price formed a base near the channel low, where selling pressure weakened. This led to a breakout from the downward channel; however, the first move above resistance resulted in a fake breakout, indicating that sellers were still active at that level. Following this, Bitcoin found strong demand around the 87,000 Support Zone, where buyers stepped in aggressively. From this area, price began to form higher lows and successfully established an ascending (upward) channel, signaling a shift in short-term market structure toward bullish control. Within this upward channel, BTC experienced several clean breakouts above intermediate resistance levels, confirming improving momentum. The key horizontal level around 90,300 acted as a major resistance, where price was rejected multiple times. Despite these rejections, the market did not break down sharply, suggesting absorption of selling pressure rather than distribution.

Currently, BTCUSDT is pulling back toward the 87,000 Support Zone, which aligns with previous resistance turned support and the lower boundary of the upward channel. Price action here remains constructive, with consolidation rather than impulsive selling, indicating that the move lower is corrective.

My Scenario & Strategy

My primary scenario remains bullish as long as BTC holds above the 87,000 support. This zone is a key demand area, and a strong reaction from here could lead to another attempt toward the 90,300 Resistance and a continuation within the upward channel. A confirmed breakout and acceptance above the 90,300 level would open the door for further upside toward higher channel targets.

However, a failure to hold the 87,000 Support Zone would signal weakness and could trigger a deeper correction toward the lower channel boundary. For now, the market structure favors long positions, with support holding and resistance as the next upside objective.

That's the setup I'm tracking. Thank you for your attention, and always manage your risk.

[cryptobro]

Great analysis buddy!