BITCOIN Drops Below Major Support - Is $93,000 the Next Target?

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BTCUSD has decisively broken below a key support level, signaling a potential shift in momentum. The recent price action shows a rejection at this broken support, now acting as resistance, indicating that sellers are regaining control. This rejection reinforces the bearish outlook, as failed attempts to reclaim the level suggest continued downside pressure.

If bearish momentum persists, BTC could extend its decline toward the $93,000 support zone, a key level where buyers may attempt to step in. However, a sustained move back above the resistance zone would invalidate the bearish setup, signaling a potential shift in momentum. In this scenario, buyers could regain strength, possibly driving the price higher and negating the bearish bias.

Traders should remain cautious and monitor price action around these key levels to confirm directional bias before committing to a position. Risk management remains essential, given the volatility of BTC/USD.

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