Bitcoin’s 9% Bounce Faces a Bearish Wall — Why Moving Past $88,000 Becomes Critical Now?

Bitcoin has rebounded nearly 9.4% from weekly lows near $80,400, a move supported by the reappearance of a hidden bullish divergence pattern seen previously. However, this rally is meeting significant resistance, primarily a heavy supply cluster between $87,671 and $88,082, where many holders are positioned to sell at breakeven, totaling about 55,567 BTC.

Adding to the bearish pressure, a 100-day Exponential Moving Average (EMA) is threatening to cross below the 200-day EMA, a signal often indicating prolonged downward pressure. The critical level for the current bounce is $88,200; a clean daily close above this point, combined with the failure of the EMA crossover, could propel Bitcoin toward $92,600 and potentially $95,900.

Conversely, if the bearish EMA crossover completes, it will likely cap the rebound. Key downside support remains strong between $84,449 and $84,845, which holds substantial BTC supply; breaking this floor would invalidate the current rebound theory and risk a return to the $80,000 region.

(Source：BeInCrypto)