- Bitcoin got rejected at $95K and is now moving lower toward a key support level
- The $82K–$83K zone is a strong area wherein traders can step in to buy again.
- Market movement will depend on economic updates and investor sentiment.
Bitcoin has once again struggled to maintain an upward trajectory as it faces rejection at the $95,000 resistance level. Crypto analyst Michaël van de Poppe has proven the current market condition, noting how the liquidities on both sides have been taken, leaving Bitcoin in a state of consolidation. With economic events and a huge summit ahead, the market is treading cautiously, awaiting fresh catalysts.
Source:X
Key Resistance and Market Rejection
Bitcoin’s recent trial in breaking above $95,000 met with immediate resistance, triggering a sell-off that pushed the price downward. The chart reveals a sharp rejection at this level, with a subsequent drop into the lower price range. A red resistance block is visible around the failed breakout zone, confirming that sellers overwhelmed buying pressure. The rejection suggests that Bitcoin lacks the necessary momentum to push higher, forcing traders to reassess lower support levels.
The current structure resembles previous liquidity sweeps, where both long and short positions were liquidated, leaving the market in equilibrium. With this rejection, analysts now focus on potential support areas that could provide a floor for Bitcoin’s next move.
Support Levels and Market Structure
The chart identifies an important green support zone, around $82,000–$83,000, marking the beginning of Bitcoin’s last upward rally. Historically, price levels that act as strong launching points tend to attract bids upon retesting. If Bitcoin continues its downward trajectory, this zone could serve as a major demand area, potentially triggering a bounce.
A wick under this green low area, as indicated on the chart, could lead to an increase in selling pressure, which in turn comes out with a large-volume candle. Such a move would likely confirm bearish sentiment, pushing Bitcoin toward even lower levels. However, if bulls step in at this crucial juncture, a recovery attempt back to resistance levels could unfold.
Related: Bitcoin Surges $94K as Trump Reveals Crypto Reserve Plan
Market Sentiment and Upcoming Events
Van de Poppe emphasized the importance of waiting for this week’s developments, citing upcoming economic data and a summit on March 7 that could dictate Bitcoin’s short-term direction. The market remains uncertain, with traders looking for confirmation before positioning aggressively.
Despite the recent rejection, the token’s durable pattern remains unhinged. However, a breakdown below the identified support zone could drastically alter the formation. For now, Bitcoin is chopping between resistance and support, waiting for the next catalyst to determine its course.
