Bitcoin (BTCUSD) Shows Signs Of Weakness As Key Resistance Holds Strong

BTCUSD shows signs of weakness as the $100,000 key resistance holds strong. From a price action perspective, Bitcoin has formed multiple lower highs after rejecting the $100,000 resistance level. The market recently attempted to push above this level but failed, leading to a sell-off. Key horizontal support lies at $85,000, which is a critical level to watch. If this support is breached, it could trigger further bearish movement.

 

Given the bearish structure, BTCUSD is likely to decline toward $85,000 in the short term. If bearish momentum intensifies, a further drop to $66,780 could be on the horizon. Any temporary relief rallies will likely face strong resistance around $98,370 before sellers regain control. A confirmed break below $85,000 would signal a deeper correction, potentially toward $53,500.

BTC Key Levels

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

What Are the Indicators Saying?

The daily chart shows BTCUSD struggling to stay above the 9-period SMA (Simple Moving Average), currently at $96,720. The RSI (Relative Strength Index) stands at 46.80, indicating weakening momentum below the neutral 50 level, suggesting further downside potential. The price has failed to break above the psychological resistance at $100,000, reinforcing the bearish bias.

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