Bitcoin Price Analysis: $93K Support Under Pressure – Will BTC Bounce or Break?
Bitcoin is currently trading around $93,983, with a market cap of $1.86 trillion and 24-hour trading volume of $35 billion.
The price has fluctuated between $93,607 and $96,480, and it remains 13.6% off its all-time high. On the 1-hour chart, Bitcoin faces pressure at the $93,607 support level, with bears in control. A move above $95,500 requires strong buyer support, while slipping below $93,000 could push prices toward $91,000. The 4-hour chart shows a clear downtrend, with diminishing peaks and valleys. A reversal from $99,508 triggered a drop to $93,340, and further declines toward $90,000 are possible.
The daily chart reveals ongoing bearish consolidation, with the $93,000 support still intact but vulnerable to further selling pressure. Moving averages and technical indicators suggest a bearish outlook, although a bounce towards $96,500 is possible if buyers regain control. A break below $93,000 may lead to deeper corrections.
Clever Robot News Desk 26th February 2025
