Bitcoin $BTC (BTC) Technical Outlook: Relief Bounce, But Trend Still Weak
Bitcoin is showing a mild recovery after
dipping toward the $80,686 support level -
zone where buyers stepped in to prevent
further downside. This rebound comes after
BTC faced repeated rejections from the
$108,800-$116,450 region, aligned with key
Fibonacci levels (0.618 &0.786), confirming
strong seller pressure near the upper
resistance band.
During the recent decline, BTC fell below all
major EMAs - 20 EMA ($92,148), 50 EMA
($98,438), 100 EMA ($103,616), and 200 EMA
($104,509). These EMAs now stack above the
current price, acting as strong resistance and
signaling continued bearish momentum.
The current bounce is constructive, but BTC
remains below the 0.236 Fib level at $91,426,
which it needs to reclaim for early
stabilization. A stronger recovery requires a
break above the $98,070 (0.382 Fib) level,
followed by a challenge of the $103,439 (0.5
Fib) zone.
A decisive shift to bullish momentum will only
occur if BTC closes above the $108,809 (0.618
Fib) resistance, where the previous
breakdown started.
On the downside, if BTC loses the current
support range, the chart shows a critical
demand level at $80,686. A breakdown below
this zone could drag BTC toward deeper
supports and erase the entire mid-term
structure.
The RSI is currently at 46.44, showing a mild
recovery from oversold levels but still not
indicating strong bullish pressure.
๐ Key Levels
Resistance Zones
$91,426 (0.236 Fib)
$98,070 (0.382 Fib)
$103,439 (0.5 Fib)
$108,809 (0.618 Fib)
$116,454 (0.786 Fib)
Support Zones
$85,000 (local support)
$80,686 (major support / swing low)
RSI (14):
46.44 โ Recovering, but still showing weak
