Bitcoin (BTC) continues to trade within a broader descending channel on the daily timeframe, a structure that has dominated price action over the past few months. Recently, BTC rebounded strongly from the $81,000 support zone, forming a sequence of higher lows, signaling short-term buying interest.
However, upside momentum remains limited. Each recovery attempt has been rejected near the $95,000 level, an area that aligns with the upper boundary of the descending channel and a key bearish order block, reinforcing it as strong resistance.
Adding to the cautious outlook, BTC is currently trading below both the 100-day and 200-day moving averages, which are trending downward around $107,000. This setup highlights that, despite the recent bounce, buyers are still moving against the dominant macro downtrend.
BTC
88,541.33
+0.29%
