Bitcoin briefly rebounded from around $88,700, but this level acted as some support on the chart. What’s interesting about this move is that it comes at the exact time Nvidia announced its earnings, returning some optimism to global markets. This small rally caused Bitcoin to recover slightly, but experts say the rebound is still too weak to confirm a firm bottom.
Currently, Bitcoin is stuck in a zone where a proper recovery can form, but the price has not yet crossed any key resistance levels. This means that the market is not showing a clear signal that the downtrend is over.
Markets still look fragile in the short term
Bitcoin may still fall a bit in the short term. Today’s pullback looks like the beginning of a short-term bottom, but the move is very small and has yet to show the strength needed for an actual trend reversal. Traders who have been slowly accumulating during this decline believe Bitcoin is severely oversold, but a stronger rally is needed to confirm momentum.
The fall from Tuesday’s highs looked strange. Because instead of showing a strong and steady decline, it fell in a more gentle and choppy pattern. This is one reason why analysts think today’s pullback is the beginning of a trend “reset” but not necessarily the final bottom.
What Bitcoin needs to do for a true recovery
Bitcoin would need to break out of the major resistance zone around $97,300 to indicate that it has formed a meaningful low. Until that happens, the current move is likely to be just a temporary pullback within a broader correction.
The next price range to look at is approximately $93,200 to $96,200. If Bitcoin moves forcefully into this area, it could signal a serious buyer rally. If this movement stalls, the market may simply flow sideways or fall again.
Oversold levels attract buyers, but there is no confirmation yet
Some investors have already started adding to Bitcoin positions as the market appears oversold, but even they admit they need clearer signals before determining the true bottom. Although Bitcoin did not fall as far as the deep support around $85,000 to $86,000, it still hit the broader target area that analysts had expected for this correction.
For now, it all comes down to one simple question. Can Bitcoin manage to break through the key resistance level at $97,300?
Until that happens, the rebound we are seeing is just a small reaction to an oversold market and the positive mood following Nvidia’s strong performance.
