Bitcoin is showing signs of weakness on the daily chart, raising concerns that the recent rally may have already peaked. Analysts say the price has slipped below an important upward trend line, and attention is now on how the daily candle closes to confirm whether the breakdown holds.
The move comes as Bitcoin trades in a resistance area where a short-term top was already expected. A first warning signal appeared when the price broke below last Friday’s low, increasing the chances of a deeper pullback.
Downside Targets Come Into Focus
According to technical analysis, Bitcoin may now be heading toward the $74,000–$75,000 range in a bearish scenario. This would mark the next major downside target if selling pressure continues.
That said, analysts note a possible short-term rebound could still occur. If buyers step in strongly between $82,500 and $86,900, Bitcoin could attempt a temporary recovery move. This would likely be a corrective bounce rather than the start of a new long-term rally.
Support Areas Under Close Watch
Several support zones are now in focus. The $86,900 level, which lines up with a key Fibonacci retracement, has acted as a buying area in the past. Other nearby levels where buyers previously stepped in during December are also being monitored.
However, analysts warn that a bounce is not guaranteed. Even in a broader bearish structure, short-term rebounds are common when prices fall quickly and become oversold.
Short-Term Chart Shows More Weakness
On shorter time frames, Bitcoin has