Bitcoin Breakdown: Bearish Retest or Further Crash to $60K?

28 ก.พ.

Bitcoin (BTC/USD) Daily Chart Analysis 🧐📉
Key Observations:
Major Breakdown Below Support 🚨

BTC has broken below a key support zone around $85,000 (which also aligns with the 200 EMA at $85,602).
This signals further downside potential if price fails to reclaim this level.
Bearish Retest Expected 🔄

The price may attempt to retest the broken support (~$85,000–$90,000) before continuing downward.
If rejected, BTC could drop to lower demand zones.
Next Major Support: $70,000 & $60,000 Zones 📉

The chart suggests a downside move toward $70,000, with a final target around $59,932.
These levels have historical significance as support zones.
RSI Shows Oversold Conditions 📊

The RSI is at 24.86, which is deep into oversold territory.
This could mean a temporary relief bounce, but overall momentum remains bearish.
Possible Scenario 📍

If BTC fails to reclaim $85,000, expect a move down to $70,000–$60,000.
A reclaim of $90,000+ would invalidate the bearish structure, leading to another attempt at $100,000+.
Conclusion: Bears in Control! 🐻⚠️
The trend remains bearish unless BTC reclaims key resistance zones.
Short-term bounce possible, but lower targets remain valid unless $85,000–$90,000 is reclaimed.
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🚀 Bitcoin Smashes Resistance! Hits 96K—Fakeout or New ATH Incoming? 🎯🔥

BTC has broken past resistance and is now trading around 94K, even touching 96K briefly! 🚀 But the big question is—Is this a real breakout or just a trap? 🧐

If BTC holds above this level, we could be looking at a new all-time high (ATH) soon! 📈💎 However, if it fails to sustain, a pullback could be on the cards. Stay sharp! ⚡

Let’s see if the bulls have enough fuel to send BTC past 100K, or if bears are lurking for a reversal! 🐂🔥