Bitcoin (BTC/USD) – Approaching Key Support with a Potential Rev

Bitcoin (BTC/USD) – Approaching Key Support with a Potential Reversal

📉 Current Market Overview:
Bitcoin (BTC/USD) is trading around $83,928, experiencing a -5.25% decline in the latest session. The price is currently respecting a descending channel, forming lower highs and lower lows, signaling a short-term bearish trend.

🔍 Technical Analysis:

Trend: BTC is moving within a well-defined downtrend channel, with key resistance and support levels clearly visible.

Support Zone: A strong demand area is identified in the $75,000–$78,000 range (green zone). If the price reaches this level, a potential bullish reversal could be in play.

Resistance Levels: The price must break through the $87,000–$90,000 resistance area to signal a trend shift. The psychological level of $100,000 remains a key target for bulls.


📈 Possible Scenarios:
✅ Bullish Reversal: If BTC finds support at the lower boundary, a bounce toward the upper channel resistance near $87,000–$90,000 could follow. A breakout above this range could push BTC toward $100,000.
❌ Bearish Continuation: A breakdown below the key support zone could lead to further declines, with $75,000 as the next critical level to watch.

🚀 Market Sentiment:
Traders are closely monitoring this setup as BTC approaches a major inflection point. Will we see a strong rebound, or is more downside ahead?

👉 What’s your take on BTC’s next move? Drop