BITCOIN → Downward trend pressure. 86K - 84K?

[bonk]

BTCUSDT.P
sold off all the gains associated with Tuesday and Wednesday's news. Technically, a false breakout of resistance is forming against the backdrop of a downtrend. There is no fundamental support.

Bitcoin failed to consolidate above 91800 - 94200, a false breakout was formed, and the price returned to the range. There is an imbalance zone on the chart, which the price may test before falling (weak technical and fundamental background).
The trend is downward in the medium term. A countertrend correction is forming, within which the market is facing pressure in the 94K - 95K zone. Zone of interest is 91850. I expect a retest, liquidity capture, and another phase of selling down to 88K - 86K.

Resistance levels: 91850, 92500
Support levels: 89550, 87980, 86260

The price is in the trading range of 84K - 94K. Resistance has been tested, and a double top reversal pattern has formed. Currently, a distribution phase is forming relative to the specified pattern and consolidation at 91850 - 94200. A retest of the nearest resistance could trigger a rebound and cause the price to fall further to the next zone of interest.

[Nahid Hossen]

BTC still struggling under selling pressure — mid-range test coming.

[Nahid Hossen]

84–86K zone could act as a reset area before next trend leg.