Bitcoin is approaching a key resistance level near $93,500, with traders watching for a breakout. After several tests of this range, recent movements show reduced selling pressure, raising the possibility of further upside.
Repeated Tests Weaken Resistance
Bitcoin has been testing the $93,500 level multiple times. Each time, the asset has pulled back less than before. The first rejection from this level saw a drop of 14%, the second about 10%, and the most recent test has shown minimal rejection. These smaller pullbacks suggest that sellers are starting to lose control.
Analyst Rekt Capital commented,
“The rejections from the Range High resistance of ~$93,500 have been getting weaker with each test.”
Notably, the pattern also shows higher lows forming over time, which many traders see as a sign of growing pressure from buyers. If this trend continues, Bitcoin may soon break through the resistance and move toward higher levels.
Bitcoin (BTC) Price Chart 04.12. Source: Rekt Capital
We współpracy z: https://cryptopotato.com/bitcoin-tests-93-5k-again-heres-why-this-time-could-be-different/
