The price of Bitcoin struggles to maintain the 95,000 dollar level after erasing its recent gains, according to reports by analyst Aaryamann Shrivastava. This Bitcoin price correction raises doubts about immediate support stability, coinciding with a bearish divergence visible in the most critical momentum indicators of the current market.
On the other hand, technical data reveals that Bitcoin dominance has descended to 59.37%, losing relative strength since June. Chart analysis highlights the confirmed breakdown of a head and shoulders pattern, whose bearish technical target mathematically points towards 89,407 dollars if selling pressure continues to intensify in the coming sessions.
Does this drop represent a golden opportunity or a trap for investors?
Furthermore, it is fundamental to observe the behavior of the MVRV Z-Score, which has recently descended to a 14-month low. This indicator suggests that the asset currently trades below its historical fair value, a technical scenario that frequently precedes important stages of strategic accumulation by investors with a long-term vision.
In this way, the market reaction at this level is crucial to define the immediate trajectory of the leading digital asset. If buyers take advantage of the Bitcoin price correction, a rebound towards 100,000 dollars would invalidate the bearish structure; however, failing here would open the door towards the 90,000 dollar zone.
To conclude, the current situation demands much caution while defining if the psychological support will manage to contain the bears. The immediate future of the cryptocurrency market depends on whether fresh capital validates these discount prices or if fear accelerates massive sell-offs.
