Market Update

Bitcoin is facing resistance at the $95k level, coinciding with the Weekly Open, after several rejections at the 4-hour EMA200 (yellow line) yesterday. For the market to shift back into bullish territory, Bitcoin must reclaim this $95k level and break the downtrend before attempting a retest of the EMA200.

If the downward pressure continues, the $92.4k level (Monday Low and Previous Week Low) will be crucial to watch for potential support. Additionally, Bitcoin Dominance has retraced slightly, suggesting that altcoins may be beginning to outperform Bitcoin.