On the 2-hour chart, Bitcoin has bounced off a rising trendline that has been in place since late December, and is currently trading around $92,000.
Even though BTC was not able to keep a close above $92,200, the overall structure suggests an upside continuation rather than distribution.
The price is making higher lows reinforced by the ascending trendline around $90,200, now a critical support zone. This upward trend with the horizontal resistance between $92,200-$92,500 forms an ascending triangle.
The RSI is around 60, indicating a period of consolidation after a reset, while the short-term EMAs are above the longer-term averages.
If $92,500 is broken through with confirmation, the way to $93,900 and $95,000 could be opened.