Bitcoin faces challenges as it trades below key resistance levels, raising market uncertainty.
Daily Timeframe Analysis
On the daily chart, Bitcoin is consolidating around $84,000, struggling to maintain upward momentum. The Relative Strength Index (RSI) indicates indecisiveness, suggesting that traders are waiting for a clearer direction. Key support sits at $82,000–$83,000, which could soon be tested if selling pressure persists.
Weekly Timeframe Analysis
Bitcoin recently reached a high of $88,752 on March 24 but has since been forming lower highs and lower lows, signaling a downward trend. The failure to break the $88,000 resistance increases the likelihood of further retracement. If BTC remains below this level, it could see a correction toward $80,000 or even $75,000 in the coming weeks.
Potential Movement Scenarios
Bitcoin’s next move depends on whether it can hold above key support levels:
* Bearish Scenario: If BTC loses support at $82,000, it could decline to $78,000–$75,000 before finding strong buying interest. If buyers fail to gain control, BTC price may drop to $70,000. * Bullish Scenario: If BTC reclaims $85,000–$86,000, it may attempt another run toward $90,000–$93,700. However, this relief rally could be short-lived unless buying volume increases.
Bitcoin is currently in a high-risk zone, with a higher probability of short-term downside. Traders should monitor the $82,000–$83,000 support—if it holds, BTC could attempt recovery.
