Bitcoin has once again fallen below a critical support zone, raising questions about whether the market is gearing up for a deeper sell-off. With selling pressure still intact, traders are now watching key levels closely to see if a final flush toward lower support is imminent.
Price Faces Another Rejection
MakroVision Research shared on X that Bitcoin has once again met strong rejection, resulting in a decisive break below several key support levels. Price has now slipped back into the range of the previous low and continues to trade beneath the critical green resistance zone between $85,200 and $86,200, highlighting that bearish pressure remains in control for now.
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On the very short-term timeframe, there are early signs of an attempted rebound, but without a timely and sustainable reclaim of the $85,200–$86,200 zone, this move is best viewed as a technical counter-bounce rather than the start of a meaningful trend reversal. As long as the price remains capped below this area, the broader short-term downtrend remains intact.
From a tactical perspective, the $85,200–$86,200 region has become the key battlefield. A clean reclaim and hold above this zone would be the first clear indication that selling pressure is beginning to fade, potentially allowing for price stabilization and a relief rally.
If this reclaim attempt fails, the risk of continued downside acceleration increases. In that case, focus would turn to the $72,300–$75,300 range, a technically prominent support zone with historical significance. This zone may ultimately serve as a potential support and reversal region should the market experience another phase of capitulation.
CME Gap Opens: What To Expect From Bitcoin This Weekend
Crypto analyst MartyParty, in a recent Bitcoin Wyckoff Accumulation update, highlighted that a CME gap is opening, which is expected to be filled by Sunday evening. This sets the stage for potential short-term volatility, with traders closely watching key technical levels and liquidation activity.
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Several scenarios are possible over the coming days. One possibility is the continued liquidation of remaining leveraged longs, with the lowest 25x Binance liquidation currently around $79,350, potentially completing the classic Wyckoff Spring pattern. Another scenario is a retest of secondary support at $81,800, which could act as a temporary floor for Bitcoin’s price action.
If support at $81,800 holds, Bitcoin may trade sideways or attempt to push toward the primary support level, which has now turned into resistance at $84,800. The most probable scenario suggests a move up through $84,500 toward $86,463, followed by a retest of $84,500 on Sunday night as the CME gap is filled, completing the near-term Wyckoff accumulation setup.
Featured image from Pixabay, chart from Tradingview.com
