Bitcoin (BTC) slipped below the $91,000 level today after failing to break through a major resistance cluster between $92,000 and $93,000, according to real-time price data from Brave New Coin’s Bitcoin Price Today Index.
As of writing, Bitcoin trades around $90,734, down roughly 1.19% over the past 24 hours, with daily trading volume near $54.3 billion.
After reviewing the 4H and daily BTC charts on TradingView, clear rejection wicks formed near $92,800–$93,000, confirming sellers remain firmly positioned in this zone. With weekend liquidity thinning and market depth weakening, Bitcoin now sits at a critical inflection point between a deeper correction and a potential rebound.
Bitcoin Rejected at $93K Resistance
Market analyst Ted (@TedPillows) emphasized that Bitcoin has “tapped the $92,000–$93,000 resistance and got rejected,” noting that this level has repeatedly capped upside momentum since early November.
Bitcoin gets rejected at the $92K–$93K resistance zone, making the $88K support level the key line to watch for a potential rebound. Source: @TedPillows via X
This resistance is consistent with historical November data across exchanges, which shows heavy selling pressure near $93,000, an area where derivatives players typically increase short positioning.
According to my chart review, the next structural support sits significantly lower at $88,000, which aligns with:
Prior demand zones in late Q3
The mid-range level of the August–October accumulation channel
High-volume node areas on the Visible Range Profile
Ted added, “If $88,000 holds, Bitcoin could begin its next leg up.”
On-Chain Metrics Suggest a ‘Low-Risk Zone’ Emerging
A separate analysis from Ali (@ali_charts) pointed to encouraging on-chain signals. Using Bitcoin’s Sharpe Ratio as a measurement tool, Ali noted the asset is drifting closer to the “low-risk” zone. According to him, “This is an area that often offers solid opportunities for dip buyers.”
Bitcoin is moving into a “low-risk” zone—a price area that historically offers strong opportunities for dip buyers. Source: @ali_charts via X
CryptoQuant’s chart reveals Bitcoin’s Sharpe Ratio dipping into territory historically associated with favorable long-term entry points—an important factor for traders studying Bitcoin forecast models and institutional behavior. Periods of negative Sharpe Ratio readings have often coincided with oversold conditions or temporary capitulation phases.
This data comes at a time when Bitwise Research reports that Bitcoin’s current pricing reflects some of the “most bearish global growth expectations since the COVID-FTX era.” Reduced exchange outflows and lighter sell pressure may be setting the stage for a contrarian upside move—provided support structures remain intact.
Weekend Trading Volume Drops, Creating Choppy Price Action
Adding to the caution, TradingView analyst tradecitypro observed a noticeable decline in market participation as the weekend began. Yesterday’s long-trigger setup “turned into a fake breakout,” he said, with sellers stepping in earlier than anticipated.
Low weekend volume has dragged Bitcoin into a choppy, trendless zone around $90.7K, with a breakout above $93,555 or below $89,000 needed to set the next clear direction. Source: tradecitypro on TradingView
He remarked that Bitcoin remains stuck beneath a key barrier: “The main resistance on Bitcoin is still 93,555, and the price didn’t reach this level. Sellers entered the market before the price could reach the resistance.”
With Bitcoin now hovering near the $90,724 zone, deteriorating market depth is creating muted reactions to established levels. Tradecitypro noted, “Because volume is so low, the price is not reacting cleanly to levels and is not respecting them, which is normal when market depth decreases.”
Final Thoughts
Bitcoin’s rejection at the $93,000 resistance zone has shifted market focus toward the critical $88,000 support line. On-chain indicators, macro sentiment, and volume trends point to a period of uncertainty but also potential opportunity—especially for long-term investors studying Bitcoin price prediction models and BTC market cap developments.
Bitcoin was trading at around 90,734, down 1.19% in the last 24 hours at press time. Source: Bitcoin price via Brave New Coin
As the market moves through the weekend, traders will be watching for clarity in price structure and confirmation of whether Bitcoin will attempt another push toward resistance or consolidate near key support zones in preparation for its next major move.