Bitcoin drops below STH RP of $92K – Will holders panic sell?

What’s next for Bitcoin’s short-term holders?

Bitcoin’s next move hinges on its ability to reclaim key resistance levels. A bullish case emerges if BTC breaks past $92k and holds above it. This would likely restore confidence among short-term holders, shifting sentiment from uncertainty to renewed accumulation. The RSI’s press time positioning near 55 pointed to room for further upside if buying pressure persists.

Conversely, a bearish scenario unfolds if BTC faces rejection near $92k. Failure to reclaim this level could confirm a short-term downtrend, reinforcing profit-taking and adding selling pressure.

The OBV’s recent uptick needs to sustain itself. Otherwise, a downturn could see BTC retesting lower support levels, potentially revisiting $82k-$84k in the coming sessions.