The price of Bitcoin is currently trading at $84,583 with a market capitalization of $1.67 trillion. The 24-hour trade volume is relatively low at $12.79 billion, reflecting cautious market sentiment. Bitcoin is facing resistance at $86,800 and has been struggling to break above it. The momentum indicator and MACD level indicate bearish momentum, while the RSI suggests Bitcoin is not yet oversold. The 1-hour, 4-hour, and daily charts all show a bearish trend, with resistance levels at $88,000 and $94,000 and support levels at $81,000 and $78,000. Moving averages and oscillators also confirm the bearish outlook. Traders should be cautious and watch for potential short-term reversals, but a sustained break above resistance levels is needed for a shift in momentum. Despite the short-term bearish momentum, Bitcoin still holds above key support levels, and a potential bounce could occur if buying volume increases. The long-term uptrend remains intact if the market stabilizes and buyers regain control.



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