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The price of Bitcoin recently fell below $90,000. The market saw a sharp sell-off, in part because news of the tariffs intensified selling pressure, strengthening the resistance area above and pushing prices below that area.
The price continued to fall significantly, falling to just over $80,000, resulting in the liquidation of multi-million dollar positions.
Current technical architecture
Dropped below $90,000
The price fell below the key $90,000 level.
Once this level is breached, it typically becomes resistance, which is what we are seeing now.
trend background
On the larger time frame, prices are still in a downtrend, and the recent bounce appears to be just a natural correction within the downtrend rather than a structural shift.
The combination of these factors suggests further price declines are likely.
If the downtrend structure continues, this would be the next support level and a reasonable downside target.
$80,000 level (psychological level)
Due to the high volume of trading, this psychological level is extremely important. If the $856,000 level is broken, the price may retest the $80,000 level.
It’s clear that sellers are targeting this area.
Upward momentum remains weak, with sellers still in control of the market.
As long as the price remains below $90,000, the market trend remains bearish.
The price broke above the $90,000 level and closed above it.
If the price continues to break strongly above this level, the following could happen:
It dropped to $110,000 while trading volume fluctuated heavily around the $111,000 level.
Bearish Scenario (Main)
The $90,000 level continues to act as strong resistance.
Target price:
Approximately US$856,000
If the price exceeds $856,000, the target becomes the psychological level of $80,000.
The overall downward trend remains, while the upward momentum is fading.
The Bitcoin market has experienced tremendous volatility this year, from all-time highs to a massive liquidation of $19 billion in just a few hours!
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