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Analyst: Bitcoin key support level is at $83,680, resistance level is around $88,000.
On November 26, Coindesk analyst Omkar Godbole stated that the first resistance level Bitcoin is focusing on is the 200-hour simple moving average (SMA), currently close to $88,000. Since Monday, this level has been acting as a resistance for price gains, limiting the increase. The next resistance level to watch is in the $98,000–99,000 range, which previously formed intraday lows multiple times earlier this month and in June of this year. Moreover, the most crucial support level is around $83,680, where the 100-week SMA intersects with the macro bullish trendline. A break below this level would send a clear risk signal, confirming the recent bearish shift and potentially leading to a deeper decline. The next stop-loss support is around $74,500, where selling pressure eased in early April, paving the way for subsequent price rebounds.