$BTC Can Bitcoin sustain its recovery despite weak technical structure❓❓

Bitcoin was trading slightly above $86,000 at the time this news was written on Monday, after a sudden reversal from Friday's low of $80,600.

This digital asset's position below key moving averages, including the 50-day Exponential Moving Average (EMA) at $102,250, the 200-day EMA at $105,968, and the 100-day EMA at $106,485, supports the prevailing bearish outlook.

Sell signals from the Moving Average Convergence Divergence (MACD) indicator, maintained since November 3 on the daily chart, reinforce the bearish grip. The red histogram bars below the zero line indicate that bearish momentum is increasing.

The Relative Strength Index (RSI) on the same daily chart remains in the oversold territory at 27. This RSI position indicates weakness, which could accelerate the downward trend towards support at $80,600.

A breakout above $88,127, a resistance tested on Sunday, would affirm the short-term bullish outlook and increase the chances of breaking above the round number resistance at $90,000.

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