Bitcoin (BTCUSD) has successfully broken below the key support level at $95,195, closing the previous daily candle below it. This confirms the continuation of the expected correctional bearish trend for both the intraday and short-term outlooks.
The price is now targeting lower levels, with the next support levels at $91,000, followed by $87,055, which are identified as the next key negative targets. The bearish trend is being guided by a descending channel, reinforcing the downward momentum.
However, a break above $95,195, followed by a move past $96,140, would invalidate the bearish outlook and potentially trigger a shift back into the primary bullish trend.
For today, the expected trading range for Bitcoin is between support at $91,000 and resistance at $95,500.
Trend Forecast: Bearish
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