Bitcoin (BTC/USD) Market Shows Rejection At Trendline Resistance With Downside Potential
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Bitcoin Price Prediction – April 1
BTC/USD market shows rejection at trendline resistance with downside potential. A bearish marubozu candlestick is likely to initiate the expected resumption of the overall bearish trend.
The 9-period SMA at $86,020 acts as dynamic resistance, keeping the bearish trend intact. The Stochastic indicator is in the overbought region near 80, signaling potential exhaustion of buying momentum. Price is struggling to break above the descending trendline, reinforcing bearish pressure around the $87,190 level. If sellers step in, a downward move could gain momentum from this rejection zone.
BTC/USD Market Key Levels:
Resistance Levels: $90,000, $100,000, $108,390
Support Levels: $85,010, $66,780, $53,500
BTC/USD – Daily Chart
The BTCUSD daily chart shows that a resumption of the market’s bearish trend is imminent.
Price action shows multiple failed attempts to break the descending trendline, forming a series of lower highs. The descending trendline has been respected, confirming continued bearish structure.
The recent minor bounce from $85,010 was weak, failing to establish a higher high. If this structure holds, BTCUSD may see another leg lower toward the next major support level.
What is the likely projection of BTCUSD?
If price fails to break above the descending trendline, a move toward $66,780 is likely. The trendline rejection increases the probability of further downside, with $85,010 acting as an intermediate support level.
A break below $85,010 could accelerate selling pressure, driving BTCUSD toward $66,780 in the coming weeks. Only a decisive break above $90,000 and the descending trendline would invalidate this bearish outlook.
BTC/USD – Four-Hour Chart
BTC/USD – Four-Hour ChartBTCUSD is consolidating below $88,800. After sweeping the buy-side liquidity (BSL) above this level, a reversal to the downside is expected. The 9-period SMA at $87,330 is flattening, suggesting weakening bullish momentum.
A breakdown below $85,010 would confirm bearish continuation, targeting the $77,500 region. Stochastic is turning downward from mid-levels, supporting the probability of further downside movement.
Bitcoin (BTC) Current Statistics
The current price: $87,190
Market Capitalization: $1,710,000,000,000
Trading Volume: $25,660,000,000
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