Bitcoin remains in a corrective structure, trading within a broader rising channel while short-term momentum remains weak. The recent price action highlights a critical phase where buyers are attempting to stabilize the market near key demand levels.
Bitcoin Price Analysis: The Daily Chart
On the daily timeframe, BTC continues to trade within the larger ascending channel that has defined the market structure over recent months. The asset has recently pulled back from the upper half of the channel at $92K and is now hovering near the lower boundary of $86K, where a clear buyers’ base has formed. This zone has previously acted as a strong demand area and is once again absorbing selling pressure.
Despite the broader bullish channel structure, the rebound from this area lacks strong impulsive momentum. The absence of aggressive continuation candles suggests that buyers are defending support but are not yet in full control. As long as the price remains above the channel’s lower boundary, the higher-timeframe structure remains constructive. However, failure to hold this zone would expose Bitcoin to a deeper retracement toward the next major demand region lower in the range.
BTC/USDT 4-Hour Chart
The 4-hour chart shows Bitcoin consolidating within a rising wedge structure following the recent sell-off. The price action has become increasingly compressed, with higher lows forming while upside progress remains capped. This behavior reflects a balance between buyers and sellers rather than a clear trend.
For the market to transition into another bullish cycle on this timeframe, a decisive breakout above the upper boundary of the wedge at $98K is required, ideally accompanied by expansion in volatility and follow-through. Without such a breakout, the current structure favors continued consolidation or choppy price action. A breakdown below the wedge support would shift short-term control back to sellers and increase the risk of revisiting lower demand zones.
Sentiment Analysis
The Coinbase Premium Index remains firmly in negative territory, signaling sustained sell-side pressure from U.S.-based participants. This persistent negative premium indicates that spot demand on Coinbase is weaker relative to offshore exchanges, a condition typically associated with cautious institutional behavior.
While the premium has shown minor stabilization, there is no clear shift back into positive territory yet. This suggests that large buyers are not aggressively stepping in at current levels. As long as the Coinbase Premium Index remains negative, upside moves are more likely to face resistance rather than develop into strong impulsive rallies. A meaningful recovery in the premium would be an important confirmation that stronger hands are returning and that downside risk is starting to diminish.
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