Bitcoin (BTCUSD) Analysis: Critical Decision Zone

Market Structure & Trend

The price is currently trading within a parallel descending channel.
It recently tested the parallel channel support, which has been respected in the past (marked with green circles).
A temporary bounce has occurred, but the structure remains bearish until a breakout confirms a shift in momentum.

Key Levels to Watch

Support Zone: Around $83,000 - $85,000, where price reacted strongly.
Resistance Zone: Around $89,000 - $91,000 (highlighted in purple), a key rejection area.
Major Downside Target:

If price fails to hold above support, it could drop towards $75,000 - $78,000.
Possible Scenarios

✅ Bullish Scenario

If BTC breaks above the purple resistance zone and reclaims the mid-channel trendline, we could see a move towards $95,000 - $100,000.
A strong breakout with volume confirmation will validate this bullish reversal.

❌ Bearish Scenario

If BTC faces rejection at the resistance zone and fails to hold above the parallel channel support, a further drop towards $78,000 - $75,000 is likely.
Confirmation of bearish momentum would come with a lower low formation.

Conclusion
Bitcoin is at a critical decision point.
Breakout above 91K = bullish continuation.
Rejection & break below 83K = deeper correction ahead.
Traders should wait for confirmation before entering trades.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice.
Trading involves risk, and you should conduct your own research before making any investment decisions. Trade responsibly.