Bitcoin (BTCUSD) Shows Bearish Pressure As Indicators Signal Downward Trend

BTCUSD shows bearish pressure as indicators signal a downward trend. Price action highlights that Bitcoin has consistently faced strong resistance at the $100,000 level, with the recent rejection from that zone leading to lower highs. A break below the $100,000 resistance further confirms bearish dominance. Multiple attempts to close above this key resistance have failed, while the formation of bearish candles near the support line suggests selling pressure is increasing. The recent candle formation also hints at a potential liquidity grab before a further drop.

Projection-wise, if the bearish trend continues, BTCUSD could find its next support around $85,000, with a breach below this level opening the door to further declines toward $66,800. The bearish structure remains intact unless a significant reversal pushes the price above the $100,000 resistance. Traders may need to watch for a decisive break below $90,000 as a trigger for further downside, while any bounce from current levels might only be temporary corrections in a larger bearish trend.

 

BTC Key Level

Supply Levels: $100,000, $108,400, $115,000
Demand Levels: $85,000, $66,800, $53,500

What Are the Indicators Saying?

The BTCUSD daily chart reveals a bearish sentiment through its indicators. The 9-day Simple Moving Average (SMA) is currently at $96,770, sitting just above the current price of $97,200, acting as a dynamic resistance level. The Stochastic Oscillator, with values at 51.9 and 44.0, is hovering in the mid-zone but appears to be curling downward. This indicates a potential continuation of bearish momentum as the price struggles to gain bullish strength.

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