Market Update:
Bitcoin has now dropped below the $95k level (Weekly Open) on the 4-hour chart. The demand zone between $94.9k - $93.8k, which was highlighted a couple of days ago, is still holding as support. However, BTC is currently chopping around within this zone, showing a lack of clear direction.
Bullish Scenario: If Bitcoin reclaims the $95k level, it could signal another push towards $96.5k (Monday High) and the 4-hour EMA200, both of which are key resistance levels.
Bearish Scenario: If the demand zone fails to hold, a break below could lead to a sweep of the $92.5k (Monday Low).
In conclusion, Bitcoin is consolidating within a key range. A reclaim of $95k could lead to a move higher, while a loss of the demand zone would likely bring the price down to $92.5k. Keep these levels in mind for the next potential move.