Bitcoin’s Descent: $90K and Beyond! 📉💸

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Bitcoin’s price took a nosedive, slinking below the $90,000 threshold like a weary traveler in a storm. The bears, those relentless predators, have taken the reins, and the bulls are now scrambling for a lifeline. Will BTC ever climb back up? Probably not. 🤷‍♂️

  • Bitcoin’s decline began its ugly dance below $92,000, then $90,000, as if the market itself had lost its nerve.
  • The price now hovers beneath $90,000, a cruel mistress, and the 100-hour simple moving average, a cruel mistress, mocks its efforts to rise.
  • A bearish trend line, a noose tightening around the price, forms with resistance at $91,500. The chart looks like a funeral procession. 🕯️
  • If the price lingers below $90,000, it might plunge deeper, like a stone dropped into a well. No one knows what lies at the bottom. 🧨

Bitcoin’s Bleak Outlook

Bitcoin’s price couldn’t even keep its head above water at $90,000. The bears, those sneaky little goblins, lurked below $88,800, dragging the price down like a heavy anchor. 🪦

They gained strength, pushing the price lower, until it hit a low of $85,276-a valley of despair. Now, it’s huddling below the 23.6% Fib retracement level, a shadow of its former self. 🌑

Bitcoin’s now trading below $90,000 and the 100-hour simple moving average, a double whammy of doom. The bearish trend line, a cruel joke, has resistance at $91,500. Good luck with that. 🤷‍♀️

If the bulls try to rally, they’ll face resistance near $87,000, a wall of bricks. The first key hurdle is $89,000, a mirage that may never materialize. 🏜️

The next resistance could be $91,000, a distant dream. A close above it might spark a flicker of hope, but don’t bet your savings on it. The bulls’ next target? $92,500, then $93,200, and finally $94,500. All pipe dreams, really. 🧠

More Losses? Oh, Absolutely.

If Bitcoin can’t break above $90,000, it’ll likely dive again, like a leaf in a hurricane. Immediate support? $85,500. A farce. The first major support? $85,000. A joke. 🤡

The next support? $83,200. A pit stop before the real fall. If it plunges further, it’ll hit $82,500, then $80,000. The main support? $80,000. A cliffhanger. 🪨

Technical indicators? The MACD is a sad panda in the bearish zone. The RSI? A drooping flag, below 50. The support levels? $85,500 and $85,000. The resistance? $87,000 and $89,000. All bleak. 🌫️

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2025-11-21 06:24