Looking at the technical analysis of Bitcoin ($BTC ), we note the following:

Technical indicators:

Relative Strength Index (RSI): Shows a reading of 35.809, indicating that Bitcoin is in the sell zone, and there may be bearish momentum.

MACD (Moving Average Convergence Divergence): Shows a negative value (-230.1), supporting the current downtrend.

Moving Averages: The 10, 20, 50, 100, and 200-day simple moving averages (SMA) and exponential moving averages (EMA) show sell signals, indicating the continuation of the downtrend.

Support and resistance levels:

Major support level: Located at $94,000, a level from which the price has previously rebounded.

Major resistance level: Located between $100,000 and $105,000, areas that may hinder any upward attempt.

Forecast:

Bullish scenario: If the price manages to hold above $98,000, it may target $100,000 and then $105,000.

Bearish scenario: Breaking the support level at $94,000 may push the price towards $88,000 and then $85,000.

Recommendations:

Traders are advised to carefully monitor these levels and indicators before making trading decisions. It may be appropriate to wait for additional confirmations before entering trades, while strictly observing risk management.