Bitcoin encounters strong resistance at the $90K level, intensifying the downward trend. Analysts forecast a move towards the $70K–$74K range.
Resistance at $90K and Bearish Momentum
A strong resistance zone has emerged at $90K, acting as a key level for sellers. Bitcoin's recent attempts to reclaim higher levels have failed, reinforcing the downward structure. Lower highs and lower lows continue forming, signaling weak market strength. A break below $83K could accelerate selling pressure. Market reversals and high volatility complicate price dynamics, offering traders entry opportunities before potential declines.
Next Target at $70K–$74K as Downtrend Persists
Bitcoin's price trajectory suggests an eventual move toward the $74K–$70K range. The chart structure indicates continued bearish momentum, with failed recovery attempts leading to fresh lows. If Bitcoin revisits $90K, it could experience intense resistance, triggering a downward push. A break below $83K may increase bearish momentum. Market conditions show sellers maintaining dominance, limiting significant bullish advances.
Strategic Short Positioning and Market Sentiment
The strategic placement of short entries highlights a structured approach to capitalizing on the market downturn. Traders anticipate liquidity gathering near resistance before a potential continuation downward. The $90K region acts as a critical point where selling pressure intensifies. In this context, buyers may step in near the $70K–$74K zone, potentially shifting market dynamics. However, the broader trend remains bearish until Bitcoin reclaims higher levels with sustained buying pressure.
Bitcoin remains under selling pressure, with short-term prospects still bearish. Traders focus on short positions and resistance levels, anticipating further downward movement.
