#Bitcoin ’s price faces bearish pressure, with a breakdown below $93,000, marking a 1.12% drop in the past 24 hours. The CMC Fear and Greed Index has declined to 48, reflecting growing uncertainty among investors.

As BTC struggles to surpass key resistance levels, technical indicators suggest potential downside risks, while analysts remain divided on the possibility of a bullish rebound.

Bitcoin Price Analysis

Respecting the long-coming resistance trend line in the 4-hour chart, the BTC price continues a bearish trend. As expected in our last article, the crucial support level at $92,750 failed to absorb the incoming supply. 

The breakdown rally almost reached the $90,000 level as predicted, making a low of $91,315. With the lower price rejections, the BTC price experienced an early reversal from the estimated target of $90,742.

However, the bullish recovery to $92,748 failed to surpass the 20-EMA line and the resistance trendline. This led to a quick pullback below the $93,000 mark.

Currently, Bitcoin is trading at $92,748, with a minor recovery of 0.43% in the past 4 hours. The 4-hour RSI line shows a quick turnaround from the oversold region, suggesting a possibility of sideways continuation.
The consolidation range is expected to respect the $90,742 support zone while struggling to break through the resistance trendline.

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