Bitcoin is making an effort to regulate a return after decline to 85,211 dollars, but the lack of strong momentum is to doubt the recovery. While buyers are trying to restore control, technical indicators indicate that the upward force remains fragile, which raises concerns about whether BTC can maintain its recovery or face another retreat.
With the presence of the main resistance levels in the future and the market morale is still unconfirmed, the next step for Bitcoin remains unexpected. If buyers fail to build enough momentum, BTC may struggle to raise a higher level, leaving it vulnerable to renewing the sale pressure.
Bitcoin tries to apostasy
The current basic procedure for BTC indicates that the bulls are making efforts to recover from the level of support of $ 85.211 after a sharp drop. This attempt follows a period of strong declining pressure, which intensified when bitcoin faced severe resistance at 93,257 dollars and failed to move up.
Despite some stability marks, technical indicators indicate that the domain momentum remains weak. The lack of strong purchase pressure raises concerns about whether BTC can maintain its current attempt when bounce or if the other contraction is imminent. In addition, the price remains less than the simple moving average for 100 days (SMA), which still indicates that the bears dominate the market.
Moreover, the MACD line and the signal line decrease, which alludes to a potential decrease in the bullish momentum. If both lines continue to the bottom and be arrested into a negative area, it may indicate a shift in the direction in favor of the bears. This weak performance indicates that the purchase pressure is not strong enough to maintain a meaningful recovery, which increases the risk of negative additions.
The sure high intersection may enhance the domination of the sale, which makes it difficult for BTC to restore the bullish direction. In order for bulls to regain control, an increase in purchase activity is needed to push MACD indicators to a positive direction. Traders must closely see the main support and resistance levels to confirm the next direction
Possible scenarios: recovery or other leg down?
If Bulls succeed in defending the support level of $ 85.211, Bitcoin may regulate a relief mobilization, which leads to an increase in prices towards immediate resistance at 93,257 dollars. A decisive break can open above this critical level door to pay a stronger rise, and BTC pays about $ 100,000. Such a step would restore market confidence and attract more buyers, which increases the possibility of continued upcoming expansion.
However, as soon as Bitcoin fails to acquire momentum, a decrease less than $ 85,211 may speed up losses. In this case, BTC may test lower support levels, perhaps about $ 73,919 or even 65,082 dollars, before stabilization.
