Bitcoin Breakout Rejected at $90,000 — Immediate Trendline Retest Underway

Bitcoin staged a powerful upside move early Monday, breaking out above the convergence of the major ascending trendline and the downtrend, but the advance was rejected at the strong horizontal resistance near $90,000. After a quick spike to that level, price has stalled and is now pulling back toward important supports.

Notably, there is a cross-market narrative: speculative flows that had been in silver appear to have rotated. The silver market showed a sharp surge to $84 that was followed by a steep drop, returning toward $74. Simultaneously, Company TradingView charts indicate gold pulled back roughly 1.8% overnight. The juxtaposition of these moves raises the possibility that some speculative capital left silver (and perhaps gold) and sought exposure in a deeply beaten-down Bitcoin.

On the 4-hour chart for Bitcoin, the breakout candle showed a meaningful volume spike, suggesting genuine initial buying interest. However, subsequent 4-hour candles registered decreasing volume and a failure to hold above the $90,000 horizontal resistance. Price is now testing the former breakout area and has briefly slipped below the $89,500 level. The Stochastic RSI is angling downward from overbought territory, which aligns with the short-term pullback thesis.

The daily timeframe amplifies the test narrative: price has pulled back from $90,000 and approached the major ascending trendline and the horizontal support around $88,000. A proper retest of this breakout level appears imminent. Technical risk includes a potential bear push that could force price back under the ascending trendline and even below the downtrend breakout, creating a pronounced fakeout and trapping late breakout buyers.

Conversely, momentum evidence is mixed. The daily Relative Strength Index (RSI) displays a breakout of its own downtrend line; should the RSI hold above that line, it would favor continuation of the bullish breakout scenario and increase the odds of a resumed upward leg targeting prior highs.

From the weekly perspective, the price already reached horizontal support at $88,000 and the major ascending trendline, meaning the market is testing multi-timeframe support levels. The most likely near-term outcome, after a valid test, remains a bounce back toward upside continuation — but traders must remain alert to the equally plausible deeper retracement down to the downtrend line.

Key technical cues to watch in the next hours: whether the $88,000–$89,500 zone holds as support; any surge in volume accompanying a daily reversal candle; the behavior of the Stochastic RSI and the main RSI lines; and cross-market signs from Company TradingView charts for silver and gold that may indicate flow rotations. If the support zone fails decisively, the likelihood of a fakeout and deeper corrective move increases significantly.

In summary, the breakout toward $90,000 looked convincing at first but has been rejected, triggering a crucial retest of ascending trendline support around $88,000. A successful retest with rising volume and sustained RSI strength would favor a renewed bull leg; a failure could prompt a sharper pullback and a completed fakeout scenario. As always, this analysis is informational and not investment advice.