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Bitcoin is making an effort to stage a comeback after dipping to $85,211, but a lack of strong momentum is casting doubt on the recovery. While buyers are attempting to regain control, technical indicators suggest that bullish strength remains fragile, raising concerns about whether BTC can sustain its reboundor face another pullback.
With key resistance levels ahead and market sentiment still uncertain, Bitcoin’s next move remains unpredictable. If buyers fail to build enough momentum, BTC could struggle to push higher, leaving it vulnerable to renewed selling pressure. Bitcoin Tries To Bounce Back
BTC’s current price actionindicates that bulls are making an effort to stage a rebound from the $85,211 support level after a sharp decline. This attempt follows a period of strong bearish pressure, which intensified when Bitcoin faced heavy resistance at $93,257 and failed to move upward. Related Reading Bitcoin Price Attempts a Comeback—Is a Recovery Rally on the Horizon? 2 days ago
Despite some signs of stabilization, technical indicators suggest that bullish momentum remains weak. The lack of strong buying pressure raises concerns about whether BTC can maintain its current attempt at a rebound or if another downturn is imminent. Additionally, the price remains below the 100-day Simple Moving Average (SMA), signaling that bears still dominate the market. Source: BTCUSDT on Tradingview.com
Furthermore, the MACD line and the signal line are edging lower, hinting at a possible decline in bullish momentum. If both lines continue downward and cross into negative territory, it could signal a shift in trend favoring the bears. This weakening performance suggests that buying pressure is not strong enough to sustain a meaningful recovery, increasing the risk of further downside.
A confirmed bearishcrossover might reinforce selling dominance, making it difficult for BTC to regain an uptrend. For the bulls to regain control, a surge in buying activity is needed to push the MACD indicators back into a positive trend. Traders should watch key support and resistance levels closely for confirmation of the next trend direction Potential Scenarios: Rebound Or Another Leg Down?
If bullssuccessfully defend the $85,211 support level, Bitcoin could stage a relief rally, driving prices toward the immediate resistanceat $93,257. A decisive break above this critical level could open the door for a stronger bullish push, propelling BTC toward $100,000. Such a move would restore market confidence and attract more buyers, increasing the likelihood of continued upside expansion. Related Reading Bitcoin Reclaims $90K But This Indicator Signals Possible Consolidation Phase 1 day ago
However, once Bitcoin fails to gain momentum, a drop below $85,211 may accelerate losses. In this case, BTC might test lower support levels, possibly around $73,919 or even $65,082, before finding stability. BTC trading at $86,211 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Unsplash, chart from Tradingview.com