BTCUSD – Extended Pullback from Record High Intensifies, Testing Key Support Levels
BTCUSD’s retreat from its recent record high has extended into a third consecutive day, accelerating after breaking below the critical psychological support at 100K.
The completion of an Evening Doji Star reversal pattern on the daily chart has amplified bearish momentum, leading to significant profit-taking. This pushed Bitcoin to the 94K zone during Friday’s European trading session.
Bitcoin is now poised for its first weekly loss in two months. The large bearish weekly candle, with a long upper shadow, highlights mounting selling pressure after a strong rejection near the key resistance level at 110K.
A failure to secure a second consecutive weekly close above 100K would further weaken bullish signals, leaving BTCUSD vulnerable to continued downside correction.
On the weekly chart, indicators point to bearish developments: the 14-week momentum is sharply declining from its recent multi-month peaks, and the RSI is moving out of overbought territory.
Key support at the 90K zone (round number and 55DMA) is critical for maintaining the broader bullish outlook. A firm hold at this level could reignite buying interest, supported by an overall bullish market structure and favorable fundamentals driving long-term sentiment.
However, a decisive break below 90K would invalidate the bullish scenario and signal the potential for a deeper correction.
Res: 95500; 98560; 100000; 101240
Sup: 93000; 92150; 90000; 88685
