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Bitcoin briefly bounced from around $88,700, a level that acted as minor support on the charts. What made the move interesting is that it happened right as Nvidia released its earnings, which brought a bit of optimism back into global markets. This small lift helped Bitcoin recover slightly, but experts say the bounce is still too weak to confirm that a solid bottom is in.
Right now, Bitcoin is stuck in a zone where it could form a proper recovery, but the price has not yet broken above any important resistance levels. That means the market has not shown a clear signal that the downtrend is finished.
Market Still Looks Fragile in the Short Term
Bitcoin can still dip a little lower in the near term. Even though today’s bounce looks like the start of a short-term bottom, the move is very small and doesn’t yet show the strength needed for a real trend reversal. Traders who have been slowly accumulating during this drop believe Bitcoin is extremely oversold, but a stronger move upward is needed to confirm momentum.
The fall from Tuesday’s high looked strange, because instead of showing a strong and steady selloff, it came down in a softer, choppy pattern. This is one reason analysts believe today’s bounce may be the start of a “reset” in the trend, but not necessarily the final bottom.
What Bitcoin Needs to Show a Real Recovery
For Bitcoin to show that a meaningful low has formed, it must break above a major resistance zone near $97,300. Until that happens, the current move is likely just a temporary bounce inside the broader correction.
The next price zone to watch is roughly $93,200 to $96,200. If Bitcoin climbs into this area with strength, it could signal that buyers are pushing back for real. If the move stalls, the market may simply drift sideways or fall back again.
Oversold Levels Attract Buyers but No Confirmation Yet
Some investors have already started adding to their Bitcoin positions because the market looks oversold, but even they admit they need clearer signs before calling a true bottom. Bitcoin did not fall as low as the deeper support around $85,000 to $86,000, but it still reached the broader target area analysts expected for this correction.
For now, everything comes down to one simple question: Will Bitcoin manage to break above the key resistance level at $97,300?
Until that happens, the bounce we’re seeing is just a small reaction to an oversold market and the positive mood following Nvidia’s strong results.