Hello Traders! 👋

What are your thoughts on BITCOIN?

Following its recent sell-off, Bitcoin entered a corrective phase and managed to rally up to the $98,000 area, where it faced strong selling pressure and got rejected. After this rejection, price broke below its ascending trendline and is now trading beneath it, signaling a weakening bullish structure.

Key Resistance Zone:

The $92,000 – $93,000 area acts as a major resistance and is currently capping price action. As long as Bitcoin remains below this zone, the bearish scenario remains favored.

Key Support Zone:

The $84,000 level stands as an important support. A clear break and daily close below this area could open the door for a deeper decline toward the $75,000 zone.

Expected Scenario:

Price is likely to consolidate and complete a pullback toward the broken structure before continuing lower. If the support zone fails, increased selling pressure could push Bitcoin toward the lower target levels.

What’s your take? Will the $84k support hold, or are we heading straight to $75k? Drop your thoughts in the comments below!

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