Bitcoin faced a problem complex start to 2025 with rejection for the amount of $100,000. It is worth noting that since its initial breakout in early December, Bitcoin has not been able to stay much above the $100,000 price level, with multiple breakouts followed by rejections. The latest decline came last week when the price hit a high of $102,000 on Monday before reversing sharply and falling to $92,000 on Thursday.

This constant tug-of-war has made BTC’s bearish case more acute through technical analysis emphasizing the 50/50 chance further decline or rebound.

$90,000: Key support zone at risk

Bitcoin’s recent price action has significantly pushed the price up to $90,000 the most noticeable level of support for bulls. While the cryptocurrency has largely held above the $90,000 support level even during recent corrections, the bearish outlook hinges on its ability to defend this level.

According to technical analysis according to Cryptocurrency analyst EGRAG CRYPTO, Bitcoin has made five different attempts to test the support trendline around $90,000, further revealing the importance of this level. This repeated retest increases the chance of weakening support strength and gradually makes Bitcoin more susceptible to a edged decline.

With this in mind, the main task for Bitcoin bulls would be to hold above $90,000 and break the resistance levels above $100,000 to invalidate the bearish outlook. If Bitcoin falls below $90,000, it could cause the price to drop further to the $87,000 range or even lower. A drop below $87,000 could, in turn, result in a rapid decline through the $12,000 gap reach $75,000.

Resistance levels to break: $103,000 to $108,500

As EGRAG CRYPTO noted, Bitcoin may continue to pose a bearish threat until it closes above a few resistance levels. These resistance levels are located at $103,000, $106,400 and $108,500 and consistent daily closes above these thresholds are required to confirm the bullish trend. The third resistance at $108,500 is the most noticeable as a break through it would send Bitcoin trading to recent all-time highs.

According to EGRAG CRYPTO, current technical indicators suggest that the chances of a pump are low at the moment. For example, Bitcoin has now lost support at the 21 EMA on the daily candlestick timeframe and sentiment is currently in the neutral zone on the Fear and Greed Index.

In the current situation, this is the biggest factor you can see bullish momentum has returned to Bitcoin is Donald Trump’s upcoming inauguration on January 20 and predicted crypto-positive policies this is under the recent administration. EGRAG CRYPTO notes that this event could either trigger a short-term rally or exacerbate an ongoing decline. At the time of writing, Bitcoin is trading at $94,400.

Featured image from Pexels, chart from TradingView