Bitcoin's price is exhibiting bearish behavior as it falls further, currently trading below the $94,000 mark and its 100 hourly simple moving average. A bearish trend line is forming around the $95,000 resistance level on the BTC/USD hourly chart.
Despite a slight recovery above $94,000, Bitcoin's future looks uncertain. If the price cannot break through the current resistance levels, it risks declining to major supports at $92,000 and possibly going as low as $90,000.
Should Bitcoin manage to overcome resistance levels, it might rebound and test $97,500 or even reach the $98,000 level. Technical indicators echo bearish sentiments, with the MACD gaining pace in this zone and the RSI lagging below 50.
