The chart marks a manipulation zone below $90,500. Prices briefly swept liquidity there, then reversed sharply higher, suggesting absorption rather than sustained distribution. That move aligned with a labeled SMT region, with a strong impulsive bounce confirming short-term demand from lower levels.
Following the rebound, printed a market structure shift on lower time frames. This change signaled a transition from correction toward possible continuation. Prices then formed higher lows, reclaiming the $91,500 to $92,000 zone. These steps strengthened the near-term bullish bias without confirming a breakout.
A major resistance level sits near $94,400, drawn across prior highs. The projected path suggests a brief pullback before another test of that level. Molenaar also wrote, “$BTC plan. Flipping cautiously bullish. No new longs yet” – this comment reflects improving structure with continued patience.