BTC 1H: Rejection at Supply, Bearish Continuation Risk

Chart Analysis (1H BTC/USD):

Major Supply Zone (~90,000–90,200):
Price was strongly rejected from this area, confirming it as a key overhead resistance. Sellers remain active here.

Fair Value Gap (FVG) / Mid Resistance (~89,000–89,500):
The red FVG zone above current price acts as a likely pullback target, but also a strong sell zone if revisited.

Current Structure:
After the rejection, BTC broke down and is consolidating below short-term EMAs, indicating bearish momentum on the 1H timeframe.

Key Support Zones:

Near-term demand: ~86,700

Major downside target: ~84,600
Loss of the 86.7k support increases probability of a deeper move toward 84.6k.

Projected Path:
The dotted projection suggests a possible pullback into resistance (87.8k–89k) followed by continuation lower, unless price reclaims and holds above the FVG.

Bias:

Below 89k: Bearish / sell rallies

Above 90.2k: Bearish bias invalidated, trend may shift bullish