Bitcoin Bullish Rebound Sparks Path Toward The $98,000 Imbalance Zone – Crypto News – Crypto News
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Bitcoin Bullish Rebound Sparks Path Toward The $98,000 Imbalance Zone – Crypto News

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2 months ago

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Bitcoin is showing new signs of strength after its sharp decline, with buyers stepping back in and momentum shifting upward. With price reclaiming key support levels, the path toward the major $98,000 imbalance zone is now back on the table, but bulls still need to prove this rebound has real conviction.

FVG Filled, Bearish OB Tagged — What Comes After The Perfect Hit?

Crypto analyst Crypto Patel, in a recent market update, noted that Bitcoin has now completed a key technical move by filling the Fair Value Gap (FVG) and tapping directly into the Bearish Order Block exactly as previously projected. He emphasized that traders who avoided shorting the $81,000–$85,000 region and instead positioned for the upside likely captured a clean and predictable long setup.

With that phase now complete, the focus shifts to Bitcoin’s next major target. Patel highlights the $96,800–$98,000 FVG as the upcoming high-timeframe imbalance zone. From a broader perspective, Patel still expects Bitcoin to make a move toward the $98,000 zone before any significant corrective leg unfolds. This aligns with his macro outlook, which continues to favor a final upward sweep into that region before momentum weakens again.

However, he also outlines a clear invalidation point for the bearish bias. A sustained high-timeframe close above $107,550 would negate the existing bearish market structure entirely. Such a breakout would signal the start of a new bullish phase for Bitcoin, potentially setting the stage for a fresh all-time-high trend. 

Promising Bounce As BTC Defends the $90,000 Support Zone

According to The Boss, Bitcoin’s latest price action is showing early signs of strength. After the sharp decline, BTC reacted firmly at the local support and managed to push back above the $90,000 level, indicating that buyers are stepping in with renewed confidence. The chart now reflects a stable support zone that has held up against downward pressure.

Part of this rebound appears to be driven by improving macro sentiment. Softer expectations around Federal Reserve tightening, a rise in overall risk appetite, and a shift back toward risk-on assets are all contributing to Bitcoin’s recovery attempt. 

From a technical perspective, The Boss notes that Bitcoin must continue to hold above the $90,000–$91,000 range to form a meaningful upward wave from this base. However, caution is still warranted. Without clear confirmation from momentum indicators and sustained trading volume, the current move has the potential to be limited. The possibility of a dead-cat bounce remains on the table, especially following such an aggressive sell-off.

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