Bitcoin confirmed a firm rejection from the critical $94,000 pivot, shifting momentum lower and increasing the probability of a move toward the next major support near $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–$78,430, aligned with high-time-frame support.
Bitcoin (BTC) entered a deeper corrective phase after multiple failed attempts to break above the $94,000 resistance zone this week. Each attempt to reclaim the level resulted in immediate sell-offs, reinforcing a decisive rejection from a region that has repeatedly capped upside expansion.
With bullish momentum fading and market structure weakening, BTC appears poised to revisit lower support levels, with the $78,000 region emerging as the next major area of interest. Traders are watching whether this rejection will rotate price back toward the lower boundary of the broader trading channel.
Key technical points
– 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: $78,000 to $78,430, which aligns with long-term support and liquidity.
Price action showed repeated taps of the channel ceiling followed by sharp pushdowns, marking another failed attempt to break structure to the upside. The move came amid a period of quiet de-leveraging, with total Bitcoin futures open interest signaling reduced speculative positioning as resistance held.
Following the confirmed rejection, Bitcoin began rotating lower toward the channel midpoint, which aligns with a prior swing low and often serves as the next checkpoint during corrective moves. A break below that midpoint would open a path to the high-time-frame support near $78,430, a region that has acted as a structural anchor in prior rotations.
From a structure and volume perspective, the recent failure looks like another lower high within a broader bearish trend. Buying activity during the breakout attempts was weak, while sell-side pressure increased each time the resistance zone was tested—an imbalance typical of a failing rally. Momentum indicators have started to shift to the downside, and downward pressure is accelerating as price trends back into the channel’s center.
Reclaiming the $94,000 zone with convincing volume would be required to negate this bearish bias, but current structure shows no immediate signs of that strength. Market conditions now resemble early 2022 in terms of weakening momentum and structural breakdowns, reinforcing the risk of deeper downside.
What to expect
Unless Bitcoin can reclaim the breakdown levels with strong volume, price is likely to continue descending toward the $78,000 support area. A sweep of that region could produce a temporary bounce, but a sustained recovery would require reclaiming the channel-high resistance. Until then, the dominant trend remains bearish.
Bitcoin is down 8.5% year-to-date.
