$BTC Bitcoin has broken down from its ascending channel and is now consolidating below former channel support. That zone has flipped into resistance around $89.5k–$90.5k. Price action is printing lower highs, which keeps the short-term structure bearish.
If $BTC gets rejected again from this resistance area, downside continuation becomes likely. The first support to watch sits around $85.5k–$86k. A clean break below that level opens the door toward the $80.5k–$81k zone, which stands out as the next major downside target.
The bearish view only weakens if Bitcoin can reclaim and hold above $92k on a sustained basis. That would invalidate the current structure and signal a potential recovery phase.
For now, momentum favors caution until the chart proves otherwise.
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