Bitcoin Price Analysis: What Will Happen to BTC If the Crucial Support at $90,000 Cracks?

Bitcoin continues to show surprising resilience as it pushes back around $90,000 amid rising geopolitical tensions. As the conflict in the Middle East intensifies and global markets react cautiously, BTC is seemingly being treated as a macro hedge. The market narrative is shifting, with growing institutional attention to ETF developments and increased volatility in risky assets.

Bitcoin Price Analysis: The Daily Chart

On the daily chart, BTC recently broke out of the declining channel it had been trading in 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 a strong rejection, pushing daily bearish candles.

The asset is now likely to retest the upper limit of the broken channel, which could turn into support. The RSI has cooled from near overbought levels and remains around 50, indicating there is potential for continuation if buyers act quickly. The 100 and 200 day moving averages are still above the price and are acting as dynamic resistances above the $95K area.

BTC/USDT 4-hour chart

On the 4-hour chart, BTC has been moving within a rising wedge pattern and was recently rejected below the upper resistance band near $95K. After failing to break above, the price fell back to the lower boundary of the wedge structure and is currently approaching the $90,000 support zone.

If buyers defend this level, we could see another attempt towards $95,000. However, if the psychological level of $90,000 is broken, a move towards the lower limit of the wedge near $88,000 is likely. The RSI has also fallen sharply below 50, showing a clear loss of momentum in the short term. For now, the price is trending bearish until a strong rebound confirms new strength.

Sentiment analysis

Sentiment indicators are mixed. The Coinbase Premium Index is still in negative territory, meaning there is relatively more selling pressure from US investors. This indicates a lack of strong spot-driven demand at current prices.

That said, there is no extreme fear and the broader derivatives market remains stable, implying that traders are still holding their positions despite the recent correction. If BTC holds the $90,000 level, sentiment could change quickly, especially if ETF news turns bullish or geopolitical instability increases.