Current price: 91600
Key point: 92000
Our preferred strategy: Sell positions below 92,000 with a first target of 88,000 and then a second target of 82,000.
Alternative scenario: Stop loss and trend reversal upon breaking the 96,000 level, targeting the 100,000 level.
Technical commentary
Bitcoin is moving in a downtrend below the 200-period moving average on the four-hour timeframe and below a descending trendline from last month's high.
With the support levels of 98000 and then 92000 broken, the price is expected to continue its decline to the levels of 88000 and then 82000.
