Bitcoin Faces Potential Drop to $75K if $83K Support Fails

Bitcoin's recovery rally has stalled, raising bearish risks. Key points include:

The $86,000 mark is now a resistance zone.
Bulls are unable to maintain gains above this level.
The 50-, 100-, and 200-hour simple moving averages (SMA) indicate a bearish alignment.
A potential bearish crossover may occur between the 50- and 100-hour SMAs.
The daily MACD histogram shows a loss of upward momentum.
A drop below $83,000 could lead to a sell-off towards $75,000.
A close above $86,000 is needed for a continuation of the rally.