Bitcoin (BTC) Price Prediction: Holding $85,000 Support with Oversold RSI but Weekly Bearish Trend Intact

Bitcoin is currently trading near the $86,000 level and showing early signs of attempting to regain momentum on the lower timeframes. As anticipated in our previous update, the retest of the $92,000 resistance zone met with strong rejection, resulting in a decline toward the key support area around $85,000. Although price briefly traded below this level during Friday’s move, the daily timeframe continues to respect it as support with no decisive close beneath. From a broader perspective, the prevailing trend remains bearish, and additional corrective downside over the coming weeks continues to align with our primary outlook. That said, given the sharp and uninterrupted decline of recent weeks, conditions are becoming increasingly ripe for at least a near-term relief rally or consolidation phase. Let’s examine the latest charts to better assess the probable path for Bitcoin in the days ahead.

Our Bitcoin Price Prediction Summary

• $85,000 support is holding, and daily RSI is oversold, pointing to a near-term bounce toward $90–92k.
• Weekly bearish divergence remains intact, keeping the broader trend firmly down.
• Expect any rally to stay corrective unless $92,000 is decisively cleared.

Analyzing the Charts

Holding $85,000 for Now

On the 1-day timeframe, Bitcoin has been in a steep corrective decline for several weeks now. After losing the psychological $100,000 level, the earlier bounce attempt found only temporary support around $92,000 before the selling pressure resumed. Price is currently trading just above the critical $85,000 zone, and so far this area is responding well as support, with buyers stepping in each time it’s tested. The bulls are defending the level for the moment, but the bears clearly retain control of the broader structure. For any meaningful short-term relief to materialize, we need to see a convincing push higher from here, ideally with strong volume and a close above the recent swing highs. Until that happens, the risk of another leg lower remains elevated.

Daily RSI Deeply Oversold

One encouraging signal on the 1-day chart is the RSI, which has now pushed firmly into oversold territory for the first time since the early-November pullback. Historically, readings this low have often preceded at least a temporary pause in selling pressure and a bounce of some magnitude. This oversold condition increases the probability that buyers will step in more aggressively around current levels, potentially driving a relief rally back toward the $90,000 area over the next couple of weeks. That said, the broader trend remains clearly bearish, with the sequence of lower highs and lower lows still intact on the daily structure itself. Until we see a decisive break and close above the previous swing high near $92,000, any upside should be treated as corrective rather than the start of a new bullish impulse. Longer term, our Bitcoin price prediction continues to lean on the bearish side as the broader correction unfolds.

Broader Trend Remains Bearish

Lastly, the bearish divergence on the 1-week timeframe that we first highlighted over a month ago remains fully in play. Price has been correcting ever since that signal appeared, and from a technical perspective, the divergence has yet to be invalidated by any meaningful higher high in momentum. This continues to be one of the main reasons our broader outlook for Bitcoin stays firmly bearish. Until we see clear evidence that this weekly divergence is resolved to the upside, any near-term bounces are likely to remain capped and ultimately offer better risk-reward opportunities for sellers rather than the start of a sustainable bull phase.

Final Takeaway: What is Next for Bitcoin?

In summary, Bitcoin is looking oversold on the daily and holding the $85,000 zone so far, making a near-term relief bounce toward $90,000–$92,000 a possibility over the next week or two. However, the broader trend remains bearish as long as the weekly bearish divergence stays in force. Any rally from here should be viewed as corrective and likely to fail below the prior swing high, keeping the risk tilted toward renewed downside in the weeks ahead. The key levels to watch right now are $92,000 resistance above and $84,000 support below. A clean break of either will tell us who’s really in control.