Bitcoin Confirms Bearish Structure After $98,000 Rejection — Here’s The Next Potential Target

[Ben Graham]

Bitcoin has reaffirmed its bearish structure after strong rejection near $98,000, signaling that sellers remain firmly in control. With key resistance holding and momentum tilting lower, traders are now shifting focus to where the price could head next if the downside continues to unfold.

Neckline Rejection Locks In A Bearish Bias

Crypto analyst Crypto Patel, in a recent post on X, pointed out that Bitcoin has firmly rejected the $94,000–$98,000 neckline resistance, a move that reinforces a bearish market structure. The rejection signals that sellers remain firmly in control, with the failure to reclaim this zone preventing any meaningful shift in momentum.

From a technical standpoint, Patel noted that Bitcoin has confirmed a failed Head and Shoulders pattern, followed by a bear-flag breakdown. This sequence strengthens the bearish outlook, as the price action continues to respect lower highs while struggling beneath key resistance. As long as BTC remains capped below the neckline, the broader trend remains decisively bearish.

Looking ahead, Patel emphasized that price action below the $90,000 level favors further downside continuation. Based on the measured move from the breakdown, Bitcoin could slide toward the $75,000–$70,000 support region, representing a potential decline of around 22% from current levels.

On the flip side, Patel stressed that a bullish bias would only return if Bitcoin manages a strong reclaim and acceptance above $92,000. Until that happens, any upside attempts are likely to be short-lived, making rallies opportunities for selling rather than signs of a trend reversal.

$89,000: The Fuse For A Potential Bitcoin Short Squeeze

According to another Bitcoin post shared by Ardi, the $89,000 level stands out as a critical threshold for any potential shift in momentum. A decisive break above this zone could begin to trigger short-squeeze conditions, as bearish positions that entered lower start to feel pressure and cover.

He further emphasized that $90,300 remains the primary gatekeeper for the market. A strong reclaim and sustained acceptance above this level would signal improving bullish control, allowing price to move higher in search of the $92,000 liquidity band, where a concentration of stops and resting orders is likely positioned.

On the downside, Ardi noted that liquidity near $86,000 has already been taken, suggesting that immediate downside targets have been largely satisfied. With that sweep complete, attention now shifts to whether bulls can push through overhead resistance and force late bears to exit, setting the stage for a sharper upside reaction.