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Bitcoin and select major altcoins are facing selling near their overhead resistance levels, but the pullback is expected to find support at the nearest moving averages.

Bitcoin turned down from its overhead resistance but is expected to find support at the moving averages.

Select major altcoins are facing selling near their overhead resistance levels, but the shallow pullback suggests the recovery may continue.

Bitcoin (BTC) is under pressure as bears attempt to sustain the price below $91,500. BTC exchange-traded funds recorded outflows of $243.2 million on Tuesday after attracting $1.16 billion in inflows in the first two trading days of the new year, according to Farside Investors’ data. That shows caution at higher levels.

However, a positive sign for BTC is that whales and sharks have accumulated 56,227 BTC since mid-December, according to Santiment. The onchain analytics platform added that cryptocurrency markets “typically follow the path of key whale and shark stakeholders, and move in the opposite direction of small retail wallets.”

Another bullish voice is that of Miller Value Partners chief investment officer Bill Miller IV,  who said on CNBC that BTC is putting a higher base than it did in the spring of 2025. He expects BTC to “break out to a higher high than its all-time high from the fall.”

Could BTC and the major altcoins rebound off their support levels and resume their recovery? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

BTC turned down from $94,789 on Monday, indicating that the bears are attempting to retain the price inside the range.

The pullback is expected to find support at the 20-day exponential moving average ($90,022). If the Bitcoin price rebounds off the 20-day EMA with force, it increases the possibility of a break above the $94,589 resistance. The BTC/USDT pair may then ascend to the psychological level of $100,000 and subsequently to $107,500.

Contrary to this assumption, a break below the moving averages suggests that the Bitcoin price may extend its stay inside the range for some more time. Sellers will be back in control if they sink the pair below $84,000.

Source: CoinTelegraph