Bitcoin (BTC) continued its powerful rally this week, climbing to a fresh local high of $94,696—just shy of the psychologically critical $95,000 level. With BTC posting an impressive 11% gain in just three days, bullish sentiment dominates the market. But with momentum slowing and candles shrinking, analysts are now questioning whether a short-term correction is on the horizon.
Bitcoin is currently trading at a pivotal resistance zone, aligning with a key Fibonacci retracement cluster. A daily close above $95,000 is crucial to sustain this bullish trend. If BTC fails to break and hold above this level, it could trigger a short-term pullback, potentially dragging prices back down toward the $82,000 region.
Key indicators to watch:
Failure on any of these fronts could spark a bearish retracement.
Despite near-term risks, Bitcoin’s longer-term outlook remains bullish:
Shorter timeframes such as the 4-hour chart do not yet show reversal signals, but BTC is encountering historical resistance zones, which may lead to consolidation or a brief dip.
Ethereum (ETH) has closed its CME gap and entered the daily TBO Cloud with positive RSI and OBV momentum. However, a daily TBO Close Short is yet to confirm.
Among altcoins:
Meme coins like TRUMP, BRETT, and FARTCOIN continue their speculative surge, posting double-digit gains driven by social hype and crypto community buzz.
The TOTAL crypto market cap chart showed a sudden drop in TBO Resistance from $3.65T to $2.89T, suggesting a short-term top could be forming. Meanwhile, Bitcoin dominance remains strong above the daily TBO Cloud, signaling BTC-led momentum may continue—at least for now.
BTC’s rally is impressive, but approaching $95K, the market is at a make-or-break point. If Bitcoin fails to break out convincingly, a pullback to $82K may be imminent. Traders should watch for signs of weakening momentum, especially shrinking candle sizes, falling volume, and bearish RSI divergences.
Bitcoin remains in a strong uptrend, but traders should exercise caution near $95K. Secure profits where appropriate, especially on altcoins that have rallied aggressively. If a pullback materializes, it could offer strategic buying opportunities before the next major leg higher.
For more Bitcoin price predictions and crypto analysis, visit www.dailyforex.pk
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