BTCUSD- capped by resistance at $92,000

The recent Bitcoin (BTC) price action suggests a bearish sentiment despite the broader long-term uptrend. The market reached an all-time high of $109,000 on January 20, 2025, before reversing, signalling potential downside risks.

Formation of a Double-Top Reversal Pattern
BTC has formed a double-top pattern, a classic bearish reversal setup.
The critical “neckline” support level at $91,900 was breached, confirming the trend reversal.
A corrective pullback from this level has intensified selling pressure, increasing the likelihood of further downside movement.

Key Support & Resistance Levels
Immediate Resistance: $86,227
Major Resistance Levels:
$89,075
$91,900 (previous neckline, now acting as resistance)
Key Support Levels:
$77,900
$74,900
$72,750 (long-term support)

Bearish Scenario
If BTC fails to sustain a move above $86,227, the price could resume its decline.
A rejection at this level would reinforce downside pressure, targeting $77,900 initially, with extended losses toward $74,900 and $72,750 in a deeper correction.

Bullish Alternative: Breakout Confirmation
A daily close above $86,227 would invalidate the immediate bearish outlook.
A sustained breakout could lead to a rally toward $89,075, followed by a potential retest of the $91,900 neckline resistance.
A confirmed reclaim of $91,900 could shift momentum back to the bulls, opening the door for renewed upside.

Conclusion
BTC’s price action remains bearish in the short-to-medium term, with key resistance at $86,227 dictating the next move. A failure to break higher could reinforce the downtrend, while a confirmed breakout above resistance would shift sentiment bullish. Traders should closely watch these critical levels for confirmation of the next directional move.