Hot Features
Premium
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
BTCUSD extends downside pressure amid weakening technical structure. Technically, price behavior has been characterized by a persistent sequence of lower highs and lower lows, confirming a firm bearish structure. The instrument recently rejected the descending trendline extending from the October swing high, intensifying selling pressure after attempting but failing to retest the $102,110 resistance zone. The current market print around $96,030 highlights sensitivity around a key short-term support band. Failure to reestablish daily closes above the former demand region around $100,470 strengthens the argument that sellers retain structural control. The lack of bullish follow-through from intraday recoveries further emphasizes the dominance of supply across higher-timeframe zones.
Forward-looking expectations maintain a cautious tone, with the bearish outlook remaining the primary scenario unless buyers reclaim firm control above $102,110. Price is positioned to potentially revisit the next support floor near $92,000, a level that historically functions as a liquidity cluster during corrective phases. A sustained break beneath that area may open the pathway toward a deeper retracement into the $85,010 region, reflecting the market’s tendency to gravitate toward broader value zones when trend exhaustion persists. Conversely, any short-term relief bounce is likely to be capped beneath the descending trendline, suggesting that rallies into the $101,000–$102,000 corridor may serve as supply re-entry zones before the broader downtrend resumes.
BTC Key Levels
Supply Levels: $102,110, $110,540, $118,000
Demand Levels: $92,000, $85,010, $74,420
What are the indicators saying?
BTCUSD continues to exhibit a broadly corrective trajectory, with the daily chart emphasizing sustained bearish momentum as prices trade below the short-term moving average near $101,230. The RSI hovers around the mid-30 region, reinforcing the presence of downside pressure and limited bullish participation. This indicator alignment suggests that market sentiment remains risk-averse, with participants displaying hesitancy toward initiating aggressive long positions. Collectively, the prevailing technical backdrop affirms a market environment skewed toward further weakness unless a decisive shift in momentum emerges.
Learn from market wizards: Books to take your trading to the next level
