$BTC Technical Analysis

Bitcoin is trying to recover, but heavy selling pressure is waiting near the 20-day EMA around $93,431. If the price gets rejected from this level again, it shows that sentiment is still weak and traders are selling every relief move.

In that case, BTC/USDT can drop back to the $80,600 support zone.

And if this level breaks, the next target could be $73,777.

This bearish setup gets invalidated only if BTC breaks above the 20-day EMA.

If buyers push the price above it, then we can see a move toward the big psychological level — $100,000.

Overall, the chances of an uptrend are still strong because of Ethereum’s major Fusaka upgrade and increasing confidence that the Federal Reserve may cut interest rates soon.$BTC

BTCUSDT

Perp

90,688.2

-0.14%