Looking at the recent Bitcoin trend over the past few days, the price has been repeatedly tugging at the $95,000 level. You might have noticed this number coincides exactly with the 100-day moving average, and previous rebounds were also stopped here. This indicates that this is indeed an important selling pressure zone since the decline from the high point.

The RSI indicator has rebounded, but it hasn't reached the extreme panic level, meaning short-term momentum is starting to show some vitality. However, within the larger correction framework, the overall trend remains in a downward structure.

How to determine whether the current rebound is a false breakout or a genuine reversal? Simply put, as long as Bitcoin stays below $95,000 and the 100-day moving average, this should be regarded as a counter-trend rebound. Don’t be fooled into thinking a new bull market has arrived.

That said, what if Bitcoin stubbornly breaks through the $95,000 threshold? Then it’s a different story. Once it breaks upward, the next target will be around $106,000, with the 200-day moving average waiting above. If it really reaches that level, it’s very likely to develop into a more sustained upward trend.