After multiple attempts to break through the $90,000 mark, Bitcoin has maintained a good momentum, although the bulls are weakening every day. Bitcoin has initiated a buy-in at a lower time frame and is expected to rebound again.

Over the past two weeks, Bitcoin has risen by over 30%, an interesting journey for the bulls - breaking through several resistance levels and hitting a new all-time high of $93,265 last Wednesday.

The new high was rejected, as the buying pressure weakened due to a severe contraction in volatility during the upward process. Although the daily chart shows signs of fatigue, the bulls still show determination.

Meanwhile, volatility began to contract after reaching the $89,000 level, as we can see in the daily chart, BTC has been struggling to break through the highs. Although the hourly chart still looks good, as it has just initiated a new buy-in at the recent highs.

If the contraction turns into another accumulation phase for Bitcoin, we can expect greater price fluctuations in the coming days. A successful break above the current highs could trigger more rebounds, up to $100,000, which is the main bullish target for this buy-in phase.

Although showing signs of weakness, Bitcoin has not yet lost momentum on the daily chart. If this eventually happens, it may retest the previous highs and then resume the bull market. For now, the bulls remain in control.

Key Levels to Watch for BTC

Source: Tradingview

In the latest buy-in, Bitcoin must reclaim the $93,265 resistance level set last week, before it can rebound to the $96,000 and $99,000 levels.

In addition to the $88,700 hourly support level, the market has also received good support at the $85,072 level over the past week. Other support levels are $81,500 and $77,200.

Key Resistance Levels: $93,265, $96,000, $99,000

Key Support Levels: $85,072, $81,500, $77,200

• Spot Price: $92,052
• Trend: Bullish
• Volatility: High