· Trend: Bearish, with Bitcoin breaking below bullish channels and key support. · Key Level: Major resistance is at $92,000-$95,000; holding below maintains bearish pressure. · Signals: Moving averages indicate a "Strong Sell," but RSI near 35 shows potential for a short-term bounce.
Actionable Setup
· Sell Signal: Consider short positions if the price fails to break and hold above $95,000. · Buy Signal: A decisive breakout above $105,600 would invalidate the bearish scenario. · Stop-Loss: Essential for risk management due to high volatility. Watch key support at $88,000.
$BTC trades at **$89,280**, down 1% today and below the key $90K support. The drop was triggered by over $200 million in long liquidations and cautious sentiment ahead of major central bank meetings. Market fear is elevated.