Bitcoin is currently trading around $89,900–$90,000 USD, showing short-term bearish pressure within a descending channel on the 15-minute timeframe. After a brief surge above the channel's midline, the price has pulled back to retest the upper portion of this bearish structure, aligning with the broader intraday downtrend.
Technical analysis reveals a clear sell opportunity emerging near the upper boundary of the channel, approximately at ~88,057 (marked as a key entry zone with a blue line on the chart). Traders are watching for a lower-timeframe rejection here—such as a wick, engulfing candle, or failed breakout—to confirm bearish momentum before entering short positions.
This setup remains valid as long as Bitcoin stays below the invalidation level of ~93,123 (highlighted in red). A decisive break and close above this red line would flip the structure bullish, forcing a reassessment and likely shifting focus to higher levels.
Downside targets are layered at prior reaction zones and the lower channel boundary:
T1: ~87,003
T2: ~86,031
T3: ~85,039
These green-lined objectives offer stepped profit-taking areas for shorts.
Overall context points to a bearish bias inside the channel until price convincingly accepts above the upper boundary and invalidation zone. Patience is key—wait for that clear bearish reaction at resistance before committing. With Bitcoin hovering near $90K amid volatile crypto markets, this intraday channel play captures the ongoing tug-of-war between sellers defending the trend and any potential buyers attempting a reversal.
