Bitcoin (BTC) Price Prediction: Bears Eye Lower Targets Following Recent Rejection

Bitcoin is currently hovering around the $88,000 mark as it attempts to find momentum on the lower timeframes. As we anticipated in our previous analysis, the price did break below the trendline support on the 1-day timeframe after losing the crucial support zone between $94,000 and $92,000. This breakdown suggests that Bitcoin is likely heading lower in the coming weeks because the market has been struggling to sustain any upward momentum for a while now. This persistent weakness in the broader trend indicates that the bears are firmly in control of the market and if the bulls do not step in before we reach the next crucial support level, a further correction will be the most likely outcome. With that in mind, let us take a look at the latest Bitcoin charts to see where the price could be headed in the short term.

Our Bitcoin Price Prediction Summary

• Bitcoin remains in a bearish trend after failing to hold the $92,000 support zone and breaking below its daily trendline.
• The $85,000 level is the next critical support to watch as short-term indicators suggest some sideways consolidation before the next move.
• Long-term weekly charts continue to signal weakness because the price stays below the 50 EMA and a three-month bearish divergence remains active.

Analyzing the Charts

Momentum Shifts and Potential Support

When we examine the latest 4-hour charts, it is clear that Bitcoin is still struggling as the price is now trading below the $90,000 mark. Momentum has been consistently fading since the rejection at the $94,000 zone and the next target for the price now appears to be the $85,000 mark. While we can expect the price to touch this support soon, the Relative Strength Index (RSI) shows that Bitcoin is currently in oversold territory. We are also seeing a bullish divergence forming on the 1-day timeframe, which does not necessarily guarantee a bounce but suggests we may see some sideways movement in the short term. This consolidation would likely occur before the bears attempt to push the price further below current levels.

Market Structure and Key Levels

When we switch to the 1-day timeframe, it is evident that the price is now trading below the crucial trendline support it held previously, which makes a retest of the $85,000 level a very likely scenario. While Bitcoin did manage to form a higher high earlier this month, that movement unfortunately resulted in a fake out and left the broader downtrend firmly intact. Due to the bullish divergence appearing on the 4-hour charts, the market will likely experience some sluggish movement for a few days before the price attempts its next major move. The way Bitcoin reacts to the $85,000 support will be a defining moment for the short-term trend because a healthy bounce with strong volume would be a positive signal for the bulls. Conversely, if the price continues to struggle and moves sideways just above that mark, we can expect the correction to deepen toward the $80,000 zone.

Long-Term Outlook and Weekly Indicators

Lastly, when we switch to the 1-week timeframe, the broader trend for Bitcoin remains bearish as the bearish divergence we have been tracking for over three months stays firmly intact. This bearish signal continues to remain active because we have not yet seen a technical reversal or a relief rally strong enough to invalidate it. Further confirming this negative outlook is the fact that the price is still trading below the 50 EMA support on the weekly chart, which serves as another clear indicator of a bearish market environment. These combined factors are the primary reason why our Bitcoin price prediction continues to lean toward the downside as we monitor the next major levels.

Final Takeaway: What is Next for Bitcoin?

Bitcoin is trading around the $88,000 mark as it faces significant pressure following the breakdown of previous support. The rejection at the $94,000 zone and the loss of the daily trendline suggest that the bears are currently in control, with the $85,000 level serving as the next major test for the market. While short-term factors including the oversold RSI and bullish divergence on the lower timeframes may lead to some sideways movement or a temporary pause, the long-term indicators on the weekly chart remain bearish. Until the price can establish a firm bounce or invalidate the long-standing weekly divergence, the potential for a further correction toward the $80,000 zone remains a likely.