Bitcoin continues to show surprising resilience as it pushes back around $90K amidst rising geopolitical tensions. With the Middle East conflict intensifying and global markets reacting cautiously, BTC is seemingly being treated as a macro hedge. The market narrative is shifting, with growing institutional attention around the ETF developments and increased volatility across risk-on assets. Bitcoin Price Analysis: The Daily Chart On the daily chart, BTC recently broke out of the descending channel it had been trading within for months. The breakout occurred after a period of accumulation near the $80K support zone, followed by a solid push into the $95K resistance. However, after reaching that zone, the price faced strong rejection, printing bearish daily candles. The asset is now likely to retest the upper boundary of the broken channel, which could flip into support. The RSI has cooled off from nearly overbought levels and remains around 50, indicating the potential for continuation if buyers step in soon. The 100 and 200-day moving averages are still above the price, acting as dynamic resistances above the $95K area. BTC/USDT 4-Hour Chart On the 4-hour chart, BTC was moving inside a rising wedge pattern and recently got rejected below the upper resistance band near $95K. After failing to break above, the price dropped back toward the lower boundary of the wedge structure and is currently approaching the $90K support zone. If buyers defend this level, we could see another attempt toward $95K. However, if the $90K psychological level breaks, a move toward the lower boundary of the wedge near $88K is likely. The RSI has also sharply dropped below 50, showing a clear loss of momentum in the short term. For now, the price is leaning bearish until a strong bounce confirms new strength. Sentiment Analysis Sentiment indicators are mixed. The Coinbase Premium Index is still in negative territory, which means there’s relatively more selling pressure from U.S.-based investors. This shows a lack of strong spot-driven demand at the current price. That said, extreme fear is not present, and the broader derivatives market remains steady, which implies traders are still holding their positions despite the recent correction. If BTC holds the $90K level, sentiment could shift fast, especially if ETF news turns bullish or geopolitical instability deepens. The post Bitcoin Price Analysis: What Will Happen to BTC if Crucial $90K Support Cracks? appeared first on CryptoPotato .
