Bitcoin (BTC/USD) from a technical standpoint on the daily timeframe remains in a bearish trend.
A change in structure, which remains some distance away, will require a daily candle close above the 90000 handle.
Wednesday saw a rise above the 200-day MA, which should have been a precursor for further gains. However, yesterday saw a significant pullback, as Bitcoin finished the day 3.12% down and back below the 200-day MA.
The 85000 handle is key now as the 200-Day MA also rests here.
The 14-period RSI also shows signs that the bearish trend remains intact. The 50 neutral level is serving as resistance and a break above is also needed to show a shift in momentum.
A move above 85000 now faces resistance at 86845 before the 90000 handle comes into focus.
Looking at areas of support and we have the 82133 handle before the 80000 psychological handle comes back into focus.
Support
82133
80000
78197
Resistance
85000
86845
90000
Bitcoin (BTC/USD) Daily Chart, March 21, 2025
