Overview
- BTC is range-bound near $86,500 after rejecting the $88.5K–$89K area, with traders watching a possible retest of the $85K support pocket.
- A 4-hour inverse head-and-shoulders pattern flags a potential move toward about $96,400 if price clears the $87,000 neckline with volume confirmation.
- Derivatives heatmaps highlight liquidity magnets near $97K–$98K on the upside and around $85K on the downside, shaping near-term path dependency.
- Funding rates have flipped negative, indicating short-side dominance that often appears late in corrections and can set up volatile reversals.
- Broader trend gauges remain bearish below the 50-, 100- and 200-day moving averages, with analysts eyeing a sustained break above roughly $93.2K to target $98K–$100K as ETF flows and U.S. data loom as catalysts.