Bitcoin price confirmed a firm rejection from the key $94,000 pivot, shifting momentum and increasing the probability of a move toward the next support at $78,000.
Summary
- Rejection at $94,000 confirms the channel high as strong resistance.
- Market structure shows another lower high, signaling continued bearish control.
- Next major downside target sits at $78,000 to $78,430, aligned with high-time-frame support.
Bitcoin (BTC) is entering a deeper corrective phase after failing to break above the critical $94,000 resistance zone throughout the week. Several attempts to reclaim this level resulted in immediate sell-offs, confirming another decisive rejection from a region that has repeatedly capped upside expansion.
As bullish momentum fades and market structure weakens, Bitcoin now appears poised to revisit lower support levels, with the $78,000 region emerging as the next major area of interest. Traders are closely monitoring whether this rejection will lead to a full rotation back toward the lower boundary of the broader trading channel.
Bitcoin price key technical points
- Bitcoin confirms rejection from the $94,000 pivot, a major channel high resistance zone.
- Price remains below key structural levels, forming another lower high.
- Next major downside target sits near $78,000 to $78,430, aligned with high-time-frame support.
Bitcoin spent the majority of the week testing the $94,000 resistance region, an area reinforced by multiple technical confluences. The strongest of these is the channel high resistance, a level that has shown consistent precision in past cycles. Previous touches resulted in clean rejections, and this time was no different.
Price repeatedly tapped the channel ceiling before being pushed sharply lower, marking another failed attempt to break structure to the upside. This move unfolded amid a period of quiet de-leveraging, with total Bitcoin futures open interest signaling reduced speculative positioning as resistance continued to hold.
With the rejection now confirmed, Bitcoin has begun rotating lower toward the channel midpoint. This midpoint closely aligns with a previously established swing low and typically serves as the next technical checkpoint during corrective movements.
Should the price break below this level, the next major target is the high-time-frame support near $78,430. This region has significant liquidity and has served as a structural anchor throughout prior market rotations.
From a market structure standpoint, the recent rejection can be viewed as another lower high within the broader bearish trend. The rally earlier in the week now appears to have been a false recovery, or what is often called a dead-cat bounce.
Volume analysis also supports the bearish outlook. Buying activity during the attempted breakout was weak, while sell-side pressure increased each time Bitcoin tapped the resistance zone. This imbalance is characteristic of a failing rally. Without strong buyer participation, price is unable to sustain upward moves and becomes vulnerable to deeper retracements.
Momentum indicators have also begun to shift. With the rejection firmly in place and downward pressure accelerating, Bitcoin is now trending back into the heart of its channel. If bearish momentum continues to build, the probability of testing the $78,000 region increases significantly.
Reclaiming the $94,000 zone would be required to negate this bearish bias, but the current structure shows no immediate signs of such strength. Market conditions now resemble early 2022, with similar weakening momentum and structural breakdowns reinforcing the risk of deeper downside.
What to expect in the coming price action
Unless Bitcoin can reclaim the breakdown levels with strong volume, price is likely to continue its descent toward the $78,000 support area. A sweep of this region may produce a temporary bounce, but sustained recovery requires reclaiming the channel high resistance. Until that occurs, the dominant trend remains bearish.
Bitcoin is down 8.5% year-to-date.
