Bitcoin is gearing up for a face-off with leveraged shorts just above its annual open price, with the key level around $93,500 being the focal point for traders aiming to solidify the recent breakout. Analysts speculate that the next support retest could bring the price down to $87,000. On April 24, Bitcoin (BTC) remained below a crucial resistance level as forecasts hinted at sub-$90,000 levels. Data from Cointelegraph Markets Pro and TradingView indicated that BTC/USD retested $92,000 as support overnight, maintaining six-week highs while global markets grappled with uncertainties surrounding the ongoing US trade war. Traders observed the market’s positive trend and anticipated a bullish announcement soon. Despite news events affecting equities and gold, Bitcoin continued to exhibit resilience. Crypto trader Michaël van de Poppe noted that a slight correction was normal following a significant breakout, expecting buyers to step in and drive the price towards a new all-time high. However, some market participants speculated on the possibility of a deeper correction, potentially pushing the price below $90,000. Bitcoin bulls are eyeing the yearly open level above $93,000, which currently acts as a resistance level. This coincides with potential liquidation levels on exchange order books, setting the stage for a potential short squeeze if the price targets these levels. Liquidation leverage data from CoinGlass highlighted a concentration around $93,600, while Spoofy the Whale recently removed a significant sell wall at $90,000. This article emphasizes that it does not provide investment advice and recommends readers to conduct their research before making any financial decisions.