Bitcoin's Price Faces $95,800 Resistance, Analysts Eye $93,000 Liquidity Sweep

Bitcoin's price is at a critical juncture, with sellers exerting significant pressure and preventing a notable break above the $95,800 resistance level. This continuous downward pressure and failure to surpass the resistance level suggest that further action is needed before a definitive breakout can occur. The next course of action for Bitcoin hinges on whether it can successfully navigate through key resistance levels and liquidity zones.

Crypto analyst TehThomas outlined two major levels that could determine Bitcoin's next move. The first is the resistance at $95,400-$95,800, which has repeatedly rejected the price, forming a range just below this level as bulls hesitate. Despite this loss in momentum, the broader trend structure remains bullish, supported by a higher timeframe ascending trend line and the formation of higher lows recently.

One potential roadblock for Bitcoin is a liquidity sweep at the $93,000-$93,800 levels. A successful sweep and rebound from this zone would absorb liquidity, fueling a higher price rise. This zone is significant as it is confluenced by the ascending trendline from previous swing lows, offering a clear area for a liquidity sweep.

The next direction for Bitcoin's price depends on the liquidity sweep and whether resistance is broken. According to the analyst, a drop to the $93,000-$93,800 level for liquidity is likely to sweep out late longs and introduce fresh liquidity into the market. A dip into this level that respects the trendline would maintain the bullish structure despite violating the local higher low.

However, if Bitcoin's price falls below $93,000, the sweep could be unsuccessful, leading to a break in the bull structure and a potential collapse in price. In the worst-case scenario, this could temporarily invalidate the breakout thesis.