Bitcoin is currently fighting to stay above a crucial support range between $92,500 and $94,000. Analysts are closely watching to see whether the price can stabilize in this zone or if further weakness will continue. Sentiment remains bearish, and technical signals indicate ongoing pressure, despite small bounce attempts.
As of the time of writing, Bitcoin is trading slightly above the $95,000 mark but is down more than 1% over the last 24 hours.
### SuperTrend Indicator Near Bearish Flip
On the weekly chart, the SuperTrend indicator is approaching a flip from bullish to bearish for the first time in years. According to one analyst, the last time this occurred was near the start of the 2022 bear market. Therefore, a confirmed weekly close below $96,000 could be interpreted as a negative signal for Bitcoin’s long-term momentum.
### Bearish Divergence Still Active
A strong bearish divergence between the price and the Relative Strength Index (RSI) has been forming for almost a month. This divergence typically signals weakening momentum and suggests that a breakout to the upside is less likely in the near term. As a result, a rapid recovery toward new highs is not expected immediately.
### Short-Term Bounce Possible but Not Confirmed
Certain indicators are showing short-term oversold conditions, which could lead to brief relief rallies. However, analysts caution that there is no confirmed bottom yet. If Bitcoin breaks below the current support range, the next major downside target is expected to be around $85,000 to $86,000.
### Levels to Watch Moving Forward
If Bitcoin manages to bounce, the most significant resistance zone to watch lies between $99,000 and $100,000. This level previously acted as support before flipping to resistance. Until Bitcoin reclaims this area, analysts anticipate slow, weak, or sideways price action.
### Final Outlook
Bitcoin may remain under pressure for several weeks or even months unless it recovers key resistance levels. The upcoming weekly close near $95,000 has become a high-importance moment that could influence the market’s direction moving forward.
https://coinpedia.org/news/bitcoin-price-news-btc-structure-looks-like-pre-crash-2022-pattern/
