Bitcoin ($BTC ) price analysis

Bitcoin bulls are trying to resume the uptrend but are facing stiff resistance from the bears in the $92,000 to $93,265 zone.

The first support on the downside is the uptrend line. If this support is violated, the BTC/USDT pair could slump to $85,000.

Buyers are expected to aggressively protect the $85,000 level because a break below it may sink the pair to the 20-day EMA ($81,772).

The deeper the pullback, the longer the time it is likely to take for the next leg of the uptrend to begin.

If the price continues higher and breaks above $93,265, it will signal that the bullish momentum remains intact.

The pair may travel to $100,000 and thereafter to $113,331.

Source: CoinTelegraph