Bitcoin Tests $92,200 Resistance as CPI Data Looms

⬤ Bitcoin is pushing against the $92,200 resistance on the 1-hour chart. After sweeping weekend liquidity and bouncing from a strong low during the New York session, BTC reversed higher. Short positions were closed with small gains as downside momentum faded and price started compressing near resistance.

⬤ The price is now stuck in a tight range, making it tough to predict which way it’ll break. The chart shows multiple attempts to crack $92,200 without success, while the NY-session low around $90,080 continues holding firm. This squeeze suggests both sides are being careful, especially with CPI numbers coming soon—a typical catalyst for big volatility spikes.

⬤ A few scenarios could play out from here. If BTC cleanly breaks and holds above $92,200, it could run toward the $94,400 monthly high marked as the upside target. On the flip side, losing the $90,080 low would increase downside pressure, with the $87,600 monthly open sitting as a deeper support level that hasn’t been tested yet.

⬤ This matters because Bitcoin is sitting at a crossroads while macro risk is running high. The CPI release could either push BTC toward higher liquidity zones or send it back down to retest support. Until we get that decisive move, how price behaves around these key levels will shape near-term sentiment.