Bitcoin Traders Eye Key Levels as Moving Averages Shape Market Battles
Bitcoin BTC traders are watching crucial price levels as optimism around potential Fed rate cuts fuels hopes for a recovery. Major moving averages are acting as battlegrounds between bulls and bears.
The 200-hour simple moving average (SMA) near $88,000 has capped upside moves since Monday but has recently stabilized, hinting that selling pressure may be easing. A break above this level could spark renewed confidence and a sharper recovery.
Next resistance lies in the $98,000–$99,000 zone, a range repeatedly tested in June and earlier this month. The 50-week SMA just above $102,000 is the pivotal long-term level; reclaiming it would signal a potential return of the broader bullish trend after November’s bearish breach.
On the downside, critical support sits around $83,680, where the 100-week SMA meets a major bullish trendline. A drop below could reinforce the bearish trend, with the next support near $74,500, which previously halted sellers and triggered a rebound.
These moving averages and key price levels define the tug-of-war between bulls and bears, marking a potentially decisive phase for Bitcoin trading.
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