Bitcoin has entered a crucial make-or-break stage as its price holds onto key weekly support, while momentum continues to wane. Despite remaining above a significant confluence zone, repeated rejections overhead indicate that buyers are losing their grip. With macro pressure increasing and liquidity levels still untested, the upcoming move could determine whether BTC stabilizes or descends into a deeper correction.
Lower-Timeframe Rejection Maintains Downtrend Control
Crypto analyst Michael Van De Poppe pointed out in a recent post that Bitcoin has encountered a distinct rejection at a crucial resistance level. This setback indicates that the short-term downtrend remains active on lower timeframes, confirming that selling pressure currently exceeds buying momentum in the short term.
To shift this short-term outlook, Van de Poppe anticipates a clear breakout above the $88,000 mark. A successful move past this level would send a strong, definitive signal to the markets that the corrective phase has concluded and that upward momentum is likely to emerge from that point onward.
If buyers do not achieve this critical breakout, it is quite likely that the price will target liquidity levels below, specifically aiming for a test at $83,000 for liquidity. Should that fail, a further drop to the $80,000 level would trigger stop-losses.
Lastly, Van De Poppe linked the technical outlook to the broader economic landscape. With many macroeconomic events scheduled for the week, such as the FOMC meeting, Poppe believes the market could face significant volatility, potentially hitting one of the projected downside liquidity tests.
$93,000 Rejection Halts Momentum, but Weekly Structure Remains Intact
According to a weekly chart update from Crypto Damus, Bitcoin recently hit a strong rejection at the $93,000 resistance level. Despite this obstacle, price action remains constructive for now, with BTC staying above the vital $86,000 weekly support zone. This area is strengthened by the essential 100-week moving average confluence, making it a key level to monitor in the near future.
Nevertheless, the broader structure still allows for deeper declines. Crypto Damus observes that a complete retracement toward the rising wedge breakdown target cannot be dismissed, aligning closely with the April low around the $78,000 region. A movement into that zone would indicate a more significant corrective phase within the larger cycle.
Looking further ahead, a deeper bear-market-style retest may ultimately create a more appealing long-term opportunity. A revisit of the $70,000 level is pinpointed as a potential high-conviction buying area, should the market continue its pullback.
