Will Bitcoin return to $90K next? Traders differ in BTC price reversal possibilities.

Bitcoin (BTC) hit $100,000 on November 22 and faced a tough challenge as $300 million in sell-side liquidity blocked its path.

BTC price declines to $100,000 and teases it.

Data from Cointelegraph Markets Pro and TradingView showed BTC prices taking over at the Wall Street open.

BTC/USD fell to a local low below $97,300 and is down around 1.2% on the day of writing.

A trip to a key six-figure high ended in an early breakout as sellers lined up to keep BTC's price from rising — a common feature for Bitcoin at key psychological levels.

“FireCharts shows a massive wall of Bitcoin sales squeezed between the $99.3k – $100k range,” confirmed trading resource Material Indicators in a recent post on X.

This indicates liquidity on the largest global exchange, Binance, where the $100,000 selling wall has been building strength in the past few hours unlike other levels.

“The good news is that there has been little erosion in the last few hours,” the material indicators continued.

The bad news is that it still has nearly $300 million in liquidity.

While sell-side transactions dominate in the $100 to $1,000 range, it shows that whales are still reluctant to distribute in bulk.

“It would be good to see the whales start dropping the amount of requests to force BTC into a test of support and eventually make the wall easier to penetrate,” he wrote.

“With the ETF pipeline off for the weekend, we could see some buying opportunities ahead.”

The United States achieved another day of net inflows (ETFs) of more than $1 billion on November 21, with strong institutional demand supporting BTC's price advance.

Bitcoin's four-hour RSI hints at a bullish reversal

Others speculated where a deeper price correction would end, with prominent trader Crypto Chase seeing $90,000 in what he called a “best-case scenario.”

Related: Bitcoin Metric Breakout Teases Next 90% BTC Price Rally ‘Inevitable'

Associate trader CJ had a high target centered on the mid-$90,000s.

Meanwhile, Trader Roman has noticed promising bullish divergences on the four-hour Relative Strength Index (RSI) to support a move back to the upside.

This fell 10 points on the day, below the 70 “overbought” level.

“Big bull divs form between price and RSI here. Because of this, we have to see the continuity of the process,” he told X followers that day.

This overall trend looks very strong so I think we will break 100k today or tomorrow.

This article does not contain investment advice or recommendations. Every investment and business activity involves risk, and readers should do their own research when making a decision.