Bitcoin Analysis and Possible predictions

Bitcoin is currently trading around $88,857 after breaking below the previous support zone of $91,130. This sharp drop indicates strong bearish momentum, with the price now sitting just above the next significant support level at $88,909. A breakdown below this could open the path toward deeper corrections, possibly around $85,000 or lower.

The RSI is trending downward, currently near 30, signaling that the market is close to oversold territory. However, being near oversold doesn't guarantee a reversal; the price can continue to drop if bearish momentum remains strong. If RSI bounces above 30, it might indicate a short-term relief rally.

Momentum indicators are still showing negative pressure, with the money flow index remaining low, suggesting continuous capital outflow from the market. The momentum waves in the lower section of the chart continue trending downward, and there are no clear bullish divergences that would suggest an imminent reversal.

Key resistance levels are now $91,130, $94,245, and $96,069. Any short-term bullish movement would likely face rejection at these levels without significant volume support. On the bearish side, a close below $88,909 would confirm further downside potential.

If Bitcoin holds the current level and RSI recovers, there is a possibility of a short-term bounce to $91,130. However, given the strong bearish sentiment, the more probable scenario is a continuation of the downtrend toward lower support zones. Traders should watch for confirmation of a reversal before considering long positions, as the market remains in a fragile state with bearish momentum dominating.