Bitcoin fails to break through $95,000 again... may retest the $79,000 support level within the downtrend structure

Bitcoin (BTC) continues to face resistance at major resistance levels and has not broken out of the downward correction phase. Although there are signs of a short-term recovery, the market has not shown clear rebound signals. From the recent trading activity, downward risks still exist.

Bitcoin is currently trading within a clear downtrend channel, repeatedly encountering upward resistance near $94,000 (approximately 133.83 million KRW) to $95,000 (approximately 139.80 million KRW). This range overlaps with a key resistance line at the daily supply zone, helping to maintain the overall bearish structure of the market. Recent declines have caused Bitcoin’s price to retreat to the median level of the $82,000 (about 120.63 million KRW) to $106,000 (about 155.98 million KRW) range.

In particular, the $82,000 to $79,000 (about 116.18 million KRW) zone is regarded as the strongest support level on the technical chart. This area was the most responsive buy zone during previous downtrends. If the price continues to decline again, it is highly likely to test this support level. Unless the closing price can stay above $95,000, the overall bearish structure is expected to persist.

Looking at the 4-hour candlestick chart, Bitcoin is converging within a gradually narrowing triangle pattern. The horizontal resistance near $93,000 (about 136.82 million KRW) to $94,000 failed to break through despite multiple buying attempts, as supply barriers prevented surges. If the trendline below is broken, the next liquidity testing zone may be between $83,000 (about 122.13 million KRW) and $81,000 (about 119.21 million KRW).

Transaction data that offers insight into major investor sentiment also points to downside potential. The decreasing average transaction size and the absence of large buyers suggest a market dominated by retail investors with weak momentum. Especially during the recent phase of decline from $110,000 (about 161.82 million KRW) and sideways movement in the current range, whale (large investor) participation has noticeably decreased compared to the past. This structure has often been observed in previous down cycles, typically only seeing strong accumulation after Bitcoin falls into deeper liquidity zones.

The current situation leaves room for further declines both technically and psychologically. The $82,000 to $79,000 range is a critical zone where liquidity events could occur again, potentially serving as a crossroads for future accumulation and rebounds.

Article summary by TokenPost.ai

🔎 Market Interpretation

Bitcoin has yet to break free from the downward trend. Repeated failure to突破 resistance and the silence of whale investors reinforce bearish market sentiment.

💡 Strategy Highlights

Before breaking above $95,000, short positions may remain dominant, and whether the support line at $82,000 to $79,000 is tested or not is expected to be the main dividing line.

📘 Terminology Explanation

• Horizontal Resistance Line: A price level where upward movement repeatedly faces resistance
• Liquidity Zone: An area where large-scale buying and selling occur rapidly, significantly impacting the price
• Whale Investors: Institutions or individuals holding and trading large amounts of assets in the market

TP AI Notes

This article uses a language model based on TokenPost.ai for summarization. The main content of the body may be omitted or may differ from actual facts.