The current trading price of Bitcoin is $85,634, with a market capitalization of $1.69 trillion and a 24-hour trade volume of $68 billion. Technical indicators suggest that the market is struggling between short-term recovery and persistent bearish pressure. The 1-hour chart shows a slight recovery with buyers stabilizing prices, but resistance at $86,000 is preventing a stronger upward push. If the support level at $84,000 to $85,000 holds, there is a possibility of a breakout towards $88,000. However, a failure to maintain support could lead to a retest of $82,000, reinforcing the broader bearish sentiment. The 4-hour chart indicates a short-term bearish trend, but signs of accumulation are emerging with increased volume on upward movements. Key resistance lies between $86,000 and $88,000, and a breakout could drive prices towards $90,000. The daily chart confirms the prevailing bearish trend, with strong downward momentum and increasing sell volume. Major resistance is at $109,356, while support is near $82,133. The oscillators present mixed signals, indicating a buying opportunity, while moving averages reinforce the downtrend. In conclusion, there is critical resistance at $86,000–$88,000, and a breakout is necessary for a bullish reversal towards $90,000 or higher. Failure to reclaim this range may lead to further declines, with $82,000 as immediate support and a potential drop towards $78,000. Traders should closely monitor price action, particularly around key resistance and support zones. If Bitcoin breaks above $88,000, it could signal a shift in momentum, while a failure to break above $86,000–$88,000 and a loss of support at $84,000 could result in further declines.



Other News from Today