Bitcoin Price Declines Below $90,000 Amid Bearish Trend

Bitcoin (BTC) price is experiencing a decline, struggling below key support levels.

BTC declined below the $92,000 and $90,000 zones.
The price is trading below $88,500, facing resistance at $91,000.
A decline may continue if BTC stays below $85,000.

Current Price Action

BTC recently fell over 10%, testing the $82,000 support zone after breaking key support levels. A slight recovery has occurred above $83,500, but the price remains below $90,000 and the 100-hourly Simple Moving Average.

Immediate resistance is near $88,750, with further resistance at $90,000 and $91,500. A break above $91,500 could push BTC towards $93,000 or higher.

Potential Further Decline

If BTC cannot surpass the $90,000 level, it risks further declines. Key support levels are:

$85,000
$83,200
$82,250
Main support at $78,800

Technical indicators show the MACD losing pace in the bearish zone, while the RSI is above 50.