Bitcoin Bulls and Bears Eye Key Levels as Moving Averages Set the Stage
Bitcoin BTC traders are focused on critical price levels as optimism around potential Fed rate cuts fuels hopes for a recovery. Major moving averages are shaping the battlefield between bulls and bears.
The 200-hour simple moving average (SMA) near $88,000 is the first key level. Acting as a ceiling since Monday, it has recently stabilized, suggesting selling pressure may be easing. A break above this level could boost confidence and trigger a sharper rally.
Next resistance is the $98,000–$99,000 zone, which has repeatedly acted as a battleground in June and earlier this month. Beyond that, the 50-week SMA just above $102,000 is pivotal; reclaiming it would signal a potential return of the broader bullish trend after November’s bearish breach.
Support comes at $83,680, where the 100-week SMA intersects a major bullish trendline. A drop below this level could confirm the bearish trend, with the next cushion at $74,500, a level that previously stalled sellers and sparked a rebound.
Together, these moving averages and price points define the tug-of-war between bulls and bears, setting up a potentially decisive period for Bitcoin.
