Bitcoin Battles for Key Support at $93,000 – Break or Rebound?

Bitcoin (BTC) is currently trading at $93,983, with a market capitalization of $1.86 trillion and a 24-hour trading volume of $35 billion. The price is fluctuating between $93,607 and $96,480, remaining 13.6% below its all-time high. 🔍 Bitcoin Faces Critical Support at $93,000 On the 1-hour chart, BTC shows signs of instability, hovering around $93,607. Bearish pressure is increasing, indicated by growing selling volumes and failed attempts to reclaim $95,000. If BTC breaks above $95,500, a short-term recovery could be triggered, while a drop below $93,000 could lead to a fall toward $91,000.

📉 Bearish Trend Dominates The 4-hour chart shows a downward trajectory with lower highs and lows. After reaching $99,508, BTC quickly dropped to $93,340, reinforcing bearish dominance. If Bitcoin fails to break $96,500, the price could slide further towards the psychological support of $90,000.

🔻 Daily Chart Confirms Long-Term Downtrend The broader analysis indicates that BTC remains in a bearish zone since peaking at $109,356. While the $93,000 support level is still relevant, persistent selling pressure threatens further declines. If BTC fails to reclaim $97,000, a deeper correction could occur.

📊 Technical Indicators Show Mixed Signals RSI: 40 (neutral)Stochastic: 37 (neutral)CCI: -210 (bearish)MACD: -964 (bearish)Momentum: -3,475 (bearish) ⚡ Long-Term Moving Averages Remain Key Support EMA 200: $85,656SMA 200: $81,502 These levels currently serve as strong support zones, but BTC could approach them if bearish momentum continues. Bullish Scenario: Is a Rebound Possible? 🚀 🔹 If Bitcoin holds $93,000, it may attempt a bounce toward $96,500. 🔹 A break above $97,000 could signal a short-term bullish reversal. 🔹 Long-term moving averages provide solid support for a potential recovery. Bearish Scenario: Further Decline Ahead? 🔻 🔸 BTC remains in a clear downtrend, with lower highs and lows confirming ongoing weakness. 🔸 If BTC fails to hold $93,000, a drop toward $90,000 or lower is likely. 🔸 Selling pressure remains high, limiting any potential relief rallies.

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