Key Price Levels Determining Bitcoin's Trend
The market is currently in a Strong Sell condition. Below are the critical resistance and support levels to watch, listed from highest to lowest:
Major Resistance - $100,000
This is a crucial psychological and technical barrier (the 38.2% Fibonacci level). A sustained break above this level could signal the end of the current downtrend.
Near-Term Barrier - $91,181
This is an important neutrality zone (the 23.6% Fibonacci level). If the price rallies but gets rejected here, it would reinforce that the bears are still in control.
Immediate Support - $85,262
This is the lowest point reached in the recent decline. A decisive break and close below this level would confirm a bearish extension toward lower targets.
Next Major Support - ~$75,000
This is a significant psychological and historical support zone. It would become the primary target if the $85,262 support level fails to hold.
In summary: The primary trend remains bearish. Technical indicators like the RSI (around 31) show the market is oversold but still favor sellers. Watch the price action around $91,181 (resistance) and $85,262 (support) to determine the next decisive move.
