Bitcoin Fails to Break Descending Resistance, Targeting $78,600

Bitcoin is currently facing significant resistance levels while maintaining a position above crucial support. The market remains in a tight range, showing indecisiveness among traders amid macroeconomic uncertainties and political developments.

Key points:

Bitcoin struggles to break above descending resistance; trading volume is declining.
If this trend continues, a bearish target of $78,600 may be possible.
Bitcoin is down 25% from its January all-time high, holding above $81,000 but failing to reclaim $86,000.
Market volatility has increased due to U.S. President Donald Trump's unpredictable policies.
Panic is rising among some investors as selling pressure persists, although there remains cautious optimism for a potential bounce if key resistance levels are reclaimed.

Technical analysis indicates:

Current trading price: $83,500 with volatility affecting market direction.
Immediate goal for bulls: reclaim the $85,000 level, aligned with the 200-day moving average.
Critical support at $81,000 must hold to avoid further downside risks.
A successful move above $86,000 could indicate potential recovery toward $90,000.

The upcoming sessions will be pivotal in determining Bitcoin's trajectory—whether it can recover or enter deeper correction territory.