Bitcoin Drops After Failed $92,000 Breakout Attempt

⬤ Bitcoin got slammed after touching the $92,000 mark, grabbing liquidity just above recent highs before flipping into bearish mode. The price tapped that liquidity zone but couldn’t hold—selling pressure kicked in fast, triggering a swift pullback. It’s a classic liquidity grab pattern: push above a key level, trap late buyers, then reverse hard.

⬤ After the rejection, BTC pulled back toward $91,700, now a critical short-term level to watch. If this area breaks on lower timeframes, we could see further downside. The volatility spiked as price left the highs behind and fell back into the previous range—typical behavior after a failed breakout.

⬤ Two scenarios are in play. On the upside, another push toward the $93,720 weak high could happen, though it risks another rejection if bearish structure holds. Above that sits the $94,700 monthly high—the line in the sand. A break above would kill the bearish setup entirely. On the downside, $87,600 (the monthly open) is the bigger target, marking a major structural support level.

⬤ This price action matters because it shows how liquidity sweeps around major resistance can flip momentum fast. When Bitcoin fails to hold above key levels like $92,000, positions get liquidated and selling accelerates. How BTC handles these retracement zones and upper resistance levels will likely set the tone for short-term volatility across the entire crypto market.