BTC Breaks Key $89K Range After Falling from $116K High

• Bitcoin just did something it hasn’t managed since tumbling from $116K – it actually broke through a resistance level instead of getting smacked back down. After weeks of failed rallies and fresh lows, BTC finally pushed above the $89K range that’s been capping price action throughout this entire downturn.

• The chart tells a brutal story. Bitcoin got rejected at $111K, then $106K, then $99K – each time making new lows afterward. The pattern was clear: every attempt to reclaim higher ground failed, and price kept sliding beneath the 50-SMA like clockwork. But something shifted near $89K. Bitcoin didn’t just test resistance – it broke through with actual momentum, climbing to around $89,943.

This is the first time during the entire downtrend where BTC has managed to break into a higher band after several failed attempts.

• What makes this move interesting isn’t the size – it’s the structure. For the first time in weeks, Bitcoin cleanly pushed through a zone that previously defended itself instead of bouncing back down. The price is now trading above both the short-term moving average and the local ceiling around $88,800 that’s been holding it down.

• The real test comes with the daily close. A confirmed close above $89K would signal this isn’t just another false breakout but potentially the start of momentum shifting. After prolonged weakness, even reclaiming short-term ranges can shift sentiment and change how traders view the next move.

• The market’s watching closely because breaking these small ranges after extended downtrends often marks early signs of trend changes. Whether this strength holds or stalls at the next resistance level will become clear with the next daily candle.

My Take: This feels like the first genuine attempt at structure improvement after weeks of downside. The key isn’t the breakout itself but whether Bitcoin can hold above $89K on the daily close – that’s what separates real momentum from noise.

Source: Sykodelic