Bitcoin Struggles Below $85K: Key Support and Resistance Levels to Watch Now

• Bitcoin is facing pressure below $85K resistance, with significant support at $78.2K, $75K, and $70K facing increasing selling pressure.
• A head and shoulders pattern foretells additional losses, with potential drops to $40K–$35K if the bearish trend continues.
• The 200-week moving average is a key level of support, and bearish signals are dominant unless Bitcoin reclaims primary resistance.

Bitcoin’s price continues to struggle against selling pressure, with analysts evaluating resistance levels and market conditions for potential shifts. Price action suggests uncertainty, as Bitcoin tests critical support levels that could determine its next move.

Technical Breakdown and Support Zones

Jesse Olson examines Bitcoin’s bearish divergence across multiple timeframes, indicating a continued downtrend. He identifies a head and shoulders pattern, which signals potential further declines. The breakdown of an ascending trendline adds to concerns, as Bitcoin fails to maintain support near $71,383.

Olson notes that if downward momentum persists, Bitcoin could fall toward the $40,000–$35,000 range. He states that market reactions at this level remain unpredictable, with traders watching for signs of buying interest.

Resistance and Trendline Rejections

Another market analyst CRYPTOWZRD focuses on Bitcoin’s failure to break the $85,000 resistance, reinforcing the current bearish outlook. He points out that intraday price charts display volatility, with strong selling pressure preventing any sustained upward movement. The presence of a descending trendline further limits Bitcoin’s ability to recover.

He also warns that if Bitcoin drops below $78,200, the next downside targets are $75,000 and $70,000. He explains that past price movements show buyers have defended these levels before, but sustained selling could weaken their support.

Indicators Show a Bearish Market Structure

Olson highlights that Parabolic SAR indicators have shifted bearish, confirming the continuation of the downtrend. He observes a pattern of lower highs and lower lows, which signals a weakening market structure. He also emphasizes the 200-week moving average as an important support level.

CRYPTOWZRD adds that Bitcoin must break above key resistance levels to escape the bearish pattern. He notes that traders are closely tracking volume and sentiment shifts to determine if a potential recovery is forming.

Tracking market outlook and broader factors, Olson acknowledges that Bitcoin’s price remains highly volatile, reflecting uncertainty across the broader financial markets. He attributes part of this instability to macroeconomic factors, including market closures and external financial conditions. Analysts continue watching support and resistance levels closely to determine Bitcoin’s next major move.