Bitcoin (BTC) is demonstrating renewed signs of strength after its recent sharp decline, with buyers stepping back in and momentum beginning to tilt upward. After reclaiming key support levels, the cryptocurrency is now positioned to test the major $96,800–$98,000 imbalance zone, though analysts caution that bulls must prove the rebound has genuine conviction.
FVG Filled, Bearish OB Tagged
Crypto analyst Crypto Patel highlighted that Bitcoin has completed a critical technical move:
- Fair Value Gap (FVG) filled
- Bearish Order Block (OB) tapped
This move aligns with previous projections, giving traders who positioned for the upside a predictable long setup. With this phase complete, the next focus is the high-timeframe imbalance zone near $98,000. Patel expects BTC to reach this region before any major corrective leg occurs.
He also notes a clear bearish invalidation point: a sustained close above $107,550 would break the current bearish structure and potentially trigger a new bullish phase, paving the way for fresh all-time highs.
Support Holds at $90,000
According to analyst The Boss, Bitcoin’s recent action shows early strength:
- Local support at $90,000–$91,000 has held, signaling renewed buying interest.
- The rebound appears supported by softer Federal Reserve tightening expectations, rising risk appetite, and a general shift toward risk-on assets.
Technically, BTC must sustain above the $90,000–$91,000 range to generate a meaningful upward wave. Analysts caution that without clear momentum confirmation and strong trading volume, the recovery could remain limited, leaving the door open for a potential dead-cat bounce after the recent sell-off.
Key Takeaways
- Short-term target: $96,800–$98,000 FVG zone
- Bearish invalidation: Close above $107,550
- Critical support: $90,000–$91,000
- Macro tailwinds: Softer Fed stance, higher risk appetite, renewed buying interest
- Risk: Bounce may lack conviction if momentum and volume remain weak
Bitcoin’s rebound is promising, but traders and investors will be watching closely to see if the move can sustain above support and carry momentum toward the $98,000 zone.