Bitcoin Fights to Reclaim Yearly Open After $110K-$120K Decline

• Bitcoin is struggling to reclaim the yearly open, calling attention to a critical level that continues to shape market sentiment. BTC’s latest rejection from overhead resistance has kept the price locked beneath a major threshold that traders view as a defining pivot for trend direction.

• The chart shows Bitcoin trading around the mid-$80,000 to $90,000 range, where repeated attempts to regain the yearly open have stalled. BTC briefly spiked upward but failed to secure a daily close above the marked horizontal level, indicating persistent selling pressure. The highlighted green zone on the chart reflects a support area where buyers have defended previous declines, while the red zone above represents a strong resistance cluster aligned with the earlier consolidation phase. This technical structure reinforces the notion that reclaiming the yearly open is essential before any sustained upside can unfold.

• Market reaction has been cautious, with Bitcoin exhibiting sharp intraday swings and liquidity pockets forming around key levels. Price volatility remains elevated as traders monitor whether BTC can break back above the yearly open—an event that historically correlates with renewed bullish momentum.

The inability to regain this level signals uncertainty, especially after the asset’s recent drawdown from the $110,000–$120,000 region visible on the chart.

• Bitcoin price news continues to emphasize the importance of this technical milestone, as it influences both short-term sentiment and broader trend interpretation.

• The significance of reclaiming the yearly open extends beyond technical symbolism. A decisive move above it would shift market structure back toward a bullish posture and reduce the risk of deepening corrections into lower support zones. For now, Bitcoin remains at a critical juncture, with traders watching whether the asset can overcome resistance, stabilize above the yearly benchmark, and re-establish upward momentum in the weeks ahead.

My Take: The yearly open acts as a psychological and technical anchor for Bitcoin. Until BTC closes decisively above this level, expect continued consolidation with heightened volatility. A sustained breakout could trigger fresh buying momentum.

Source: Crypto Rover