📉 Bitcoin's Current Market Analysis: A Cautious Outlook

➡️ Bitcoin is currently priced at $95,492 with a market capitalization of $1.89 trillion and a 24-hour trading volume of $42 billion. Today's price fluctuations have ranged between $95,134 and $99,886.

♾ The 1-hour chart reveals a significant drop from $99,881 to $95,111, indicating strong selling pressure. While support is holding at $95,000, resistance is seen between $97,000 and $98,000. Oscillators like the relative strength index (RSI) at 46 and the Stochastic oscillator %K at 35 suggest a cautious market, with the moving average convergence divergence (MACD) showing a bearish signal at 586.

⚡️ On the 4-hour chart, a bearish engulfing pattern appears after reaching $99,881, signaling a short-term downward trend. Critical support is at $95,000, with a potential drop to $93,000 if this level fails. For a bullish reversal, prices need to break through the $98,000 to $99,000 resistance. Indicators like the awesome oscillator and momentum suggest further downside potential.

💫 The daily chart presents a bearish outlook, with Bitcoin retreating from its all-time high of $108,364 earlier this month. Support zones are crucial at $95,000 and $92,000, while $100,000 serves as a significant psychological barrier. Although the exponential moving averages (EMA) for 50- and 100-periods are optimistic, shorter ones remain bearish.

🔴 Oscillator readings indicate a neutral to bearish outlook. Traders should monitor for a push above $97,000 or a solid bounce from $95,000 for short-term opportunities, while long positions require additional confirmation across longer time frames.

❗️ The shorter-term moving averages continue to indicate selling pressure, but longer-term moving averages suggest that the broader trend may still favor accumulation if key support levels hold.

📈 Bull Verdict: Bitcoin needs to reclaim the $97,000 to $98,000 resistance zone and show sustained upward momentum to shift sentiment bullish. A confirmed breakout above $100,000 could reestablish a strong uptrend.