Bitcoin tries to return after immersing to USD 85 USD, but the lack of a mighty momentum raises doubts as to the recovery. While buyers are trying to regain control, technical indicators suggest that the stubborn force remains breakable, increasing the concerns about whether BTC can maintain a reflection or face another withdrawal.
With the most critical level of resistance and market moods, the next Bitcoin movement remains unpredictable. If the buyers do not build sufficient momentum, BTC can fight for pushing higher, exposing him to susceptibility to renovated pressure for sale.
Bitcoin is trying to bounce
The current BTC price action indicates that Bulls are trying to reflect from the support level USD 85 USD 211 after a acute decline. This attempt occurs after a period of mighty pressure from the bear, which intensified when Bitcoin faced a high resistance of USD 93,257 and failed.
Despite some signs of stabilization, technical indicators suggest that the stubborn rush remains feeble. Lack of mighty purchasing pressure raises concerns about whether BTC can maintain the current reflection attempt, or whether another slowdown is approaching. In addition, the price remains below the 100-day straight movable average (SMA), signaling that still dominates on the market.
In addition, the MacD line and the signal line become lower, indicating a possible drop in stubborn shoot. If both lines stay down and cross negative on territory, it can signal a change of bear -favorable trend. This weakening performance suggests that purchase pressure is not mighty enough to maintain a meaningful recovery, increasing the risk of further decline.
Confirmed Crossover bears can strengthen sales dominance, which makes it arduous to recover BTC. For the bulls to regain control, you need an enhance in purchase activity to return MACD rates into a positive trend. Traders should carefully observe the key levels of support and resistance to confirm the next direction of the trend
Potential scenarios: reflection or other leg down?
If Bulls successfully defend the level of support 85 USD, Bitcoin can organize a assist rally, increasing prices for direct resistance in the amount of USD 93,257. The decisive break above this critical level can open the door for a stronger stubborn push, driving BTC in the direction of 100,000 USD. Such a move would restore market trust and attract more buyers, increasing the likelihood of further expansion.
However, if Bitcoin is not gaining pace, a decrease below USD 85 USD can accelerate losses. In this case, BTC may test lower support levels, perhaps around 73,919 USD and even USD 65 082, before finding stability.
