BTC Technical Outlook: Bitcoin Extends Sell-Off as Price Falls Toward Key Demand Zone

BTC continues its sharp decline after multiple rejections in the $117,000–$120,000 region, where a clear triple-top pattern formed, signaling exhaustion and triggering strong bearish momentum. This breakdown pushed BTC below the 20 EMA ($96,200), 50 EMA ($103,500), and 100 EMA ($107,300) — confirming a decisive trend reversal.

Price has now dropped into the $84,000–$86,000 support region, showing only a weak reaction so far. A daily close below $84,000 would expose the next major downside target at $80,600, which aligns with the full measured move of the breakdown.

If sellers maintain control, a deeper correction toward the $74,000–$76,000 demand zone becomes possible — a historically strong support area highlighted on the chart.

For bulls to regain momentum, BTC must first reclaim $91,400 (0.236 Fib) and then break above $98,000 (0.382 Fib). A stronger recovery would require a close above $103,400 (0.5 Fib). Only a sustained breakout above $108,800 (0.618 Fib) would shift the broader structure back to bullish.

The RSI at 22.7 is extremely oversold, suggesting that a relief bounce is possible — but momentum remains heavily bearish unless BTC retakes multiple resistance layers.

📊 Key Levels

Resistance:
$91,400 → $98,000 → $103,400 → $108,800

Support:
$84,000 → $80,600 → $74,000–$76,000

RSI:
22.7 — Deep oversold

📌 Summary

BTC is trading near a major support region after a strong breakdown from its triple-top structure. While oversold signals point to a possible short-term bounce, the broader trend remains bearish unless BTC can reclaim the $98K–$103K zone with conviction.

$BTC