Bitcoin moved below the $89,800 level after several failed attempts to reclaim short-term resistance, and new on-chain metrics now show the market approaching historically significant zones as traders monitor potential accumulation or deeper downside risk.
Bitcoin’s recent 4-hour structure shows a sequence that traders aligned with the Wyckoff method. The chart features phases labeled PS, SC, AR, and ST. Each phase reflects a reaction after persistent downside pressure.
The schematic shows price failing at a resistance line near $93,576.32. After the rejection, the projection divides into two scenarios. One scenario shows a deeper sweep before an accumulation structure forms. Another scenario presents a redistribution path that points toward lower lows.
Price action recently touched $89,231.53. The chart indicates short-term weakness from the failed move above the AR region. A potential markdown phase appears if sellers push the price under the ST levels again.
A key question forms around whether buyers defend the next structural low or allow a redistribution breakdown to unfold.
Short-term holders realized price Bands reveal a compression toward lower bands. The white line (spot price) travels underneath the orange short-term holder realized price. This alignment has often signaled a stressed market.
The green MVRV line shows rapid downward movement. It sits close to the -0.5 and -1.0 standard deviation bands. Historically, these zones marked extreme short-term underperformance phases.
Bitcoin price recently hovered near $90,000. The decline coincided with short-term holders dropping into deeper unrealized loss territory. The bands near $100,000 formed long-term upper boundaries, while the lower bands near $30,000 define deeper cycle valuation areas.
BTC traders monitor these levels because the realized price bands often act as cycle guides. The chart shows the current trend moving downward with consistent pressure.
The CVDD channel indicates Bitcoin remains above long-term valuation floors. The white price line trades between mid-range CVDD multipliers. The channel historically captured macro cycle lows and market expansions.
The lower CVDD bands sit near $12,609. Although far below the current price, these areas remain important long-term valuation references. Mid-range CVDD bands between x1.854 and x2.618 align more closely with recent movement. Bitcoin currently trades under the $100,000 mid-range marker.
The price deterioration prompted comments from market participant Joao Wedson. He stated that Bitcoin lost the $89,800 level. He also noted repeated failures at resistance, which raised the probability of extended sideways movement.
Wedson shared that if Bitcoin loses $86,500, the next likely level may fall near $80,500. He indicated that such a move could open a lower local range. He also mentioned entering a short near the local top to apply a trading approach based on observed signals. The commentary referenced Alpha-based metrics and pattern signals.
Twitter data shows Bitcoin recently traded near $90,235.70. The low during the move reached $89,863.0. The 24-hour decline measured about 2.42%. Volume reached 13.26B USDT.
The analysis from multiple charts now reflects a market positioned near decisive zones. Traders watch whether Bitcoin holds structural lows or continues toward deeper valuation layers.
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Bitcoin now trades below key levels as traders assess Wyckoff structure signals, short-term holder metrics, and the CVDD channel to determine whether the market leans toward accumulation or deeper decline. Monitoring BTC price levels in the coming sessions may help identify the next decisive shift.