$BTC Quick Update – 4H Chart
Bitcoin is currently trading below a descending trendline and the momentum in the market is quite weak. The dominance of sellers is clear, especially with repeated rejections at the $88,000 zone.
As long as the price remains below $88,300, the possibility of a downward move is high.
Targets: $86,500, $85,200 and $84,000 (Major Support)
Selling pressure is still there as the EMA is currently above the price. The trendline and EMA rejections are signaling a downside continuation. If the price fails to establish a strong position above $88,500, the possibility of an upside movement is low.
BTCUSDT
Perp
87,582
-2.60%
