BTC faces bearish pressure: key support level to follow by the end of the year.

Compared to the past few days, the trading volume of BTC has surged, indicating that the weekend volatility may intensify. Star tokens continue to break through the support level after failing to stabilize above the resistance level, to some extent weakening the bullish sentiment. In this scenario, it is only possible to recover when the token manages to break the key support level of about 92,000 US dollars, which may lay the foundation for trading in 2025.

The BTC price shows some bullish rebound potential as it approaches the lower support level of the descending wedge. Currently, the two levels to follow are $95,767 and $93,211, which are the 50-day SMA and EMA, serving as temporary resistance and support levels. Breaking either of these levels could have a significant impact on the annual closing, as breaking the resistance may trigger an early breakout of the descending wedge. In addition, breaking the support level could drag the level towards the support level near $92,109 and collide with the downward trend line. The RSI is showing a decreasing trend, indicating that the trend may still be bearish, activating downward targets. Therefore, if the BTC price fails to launch a rebound to $100,000 over the weekend, bearish signals can be confirmed. The support level is between $71,000 and $81,000, with the long-term support level around $65,000. Therefore, these targets can only be activated when the token closes below the crucial range of around $92,200 in weekly trading, delaying the new ATH for several weeks. Considering the current price trend, the range between $80,000 and $85,000 may be a good buyback range, which could provide a good long-term opportunity for the BTC price rebound.