Bitcoin, the three "support lines" are about to be breached! Who’s holding the bottom? Who’s running away?
The current situation is at the edge of fate, trying to "grab a moving average to survive".
The current scenario is simple yet deadly: three core technical defense lines are being attacked in succession, and once they are lost, it will lead to a waterfall-like drop.
The three support lines are:
111-day moving average: 91.8K, which is the lifeline of the mid-term trend.
200-day moving average: 94.3K, which is the foundational logic anchor of the entire bull market.
Short-term holding cost: 95.9K, which is the "surrender line" of retail investor sentiment.
These three have supported several rounds of increases in the past, but this time... the pressure is immense, institutional selling pressure, on-chain selling pressure, and the direction of news — all are approaching the lower critical point.
My view is:
It’s not a failure of technology, but a collapse of confidence.
Price drops are not scary; what is most frightening is when short-term holdings see no hope and begin to collectively flee, turning the technical landscape into an amplifier of consensus collapse.
The current state of Bitcoin is at a "turning point within a turning point" — it’s not a struggle between bulls and bears, but a game of "faith vs reality":
If it can hold: this will be the starting point of the next major upward wave.
If it can’t hold: welcome to the 90K liquidation zone, to greet a new round of reshuffling in the market.
