Technical analysis by ActivTrades about Symbol BTC on 4 hour ago

By Ion Jauregui – Analyst at ActivTrades Bitcoin (BTCUSD) is going through a key historical moment. After weeks of rallies to all-time highs at USD 126,245.01 in October 2025, we have experienced a series of declines that reached a low on November 21, returning to price zones from November 2024, coinciding with the last halving on 04/20/2024. After a couple of weeks of stability above USD 94,000, the cryptocurrency broke a key support and fell below USD 90,000, generating widespread concern in the market. The break has marked both a technical and fundamental breach that could define price evolution in the coming days. The current floor has expanded to USD 80,612.40, a price zone very close to the pre-impulse range. The USD 94,000 level had acted as a “natural floor” for Bitcoin. According to recent JPMorgan estimates, this amount coincides with the average production cost of the cryptocurrency, indicating that mining below this price is no longer profitable for many operators. In addition, companies such as Strategy, with more than 650,000 BTC in their treasury, play a decisive role. Their USD 1.44 billion cash reserve allows them to cover financial obligations without needing to sell their assets, providing a degree of market stability. A break of this support has reflected not only technical pressure but also an uncertain macroeconomic environment for Bitcoin, amid increasing risk and institutional investors seeking less volatile investment options. If the price reaches the previous range support above USD 73,779.87, we could see a period of gap closure. On the other hand, if the price holds, we might see a period of lateral consolidation. In the medium term, the outlook remains positive if institutional demand and stable macro conditions continue: Bitcoin could return to levels near this year’s highs in the next 6 to 12 months. However, any negative event could prolong the period of weakness. Technical analysis From a technical point of view, the break of USD 90,000 confirms a breach of the lateral range that had contained BTC in recent weeks: Supports and resistance: The USD 90,000–94,000 zone acted as a key reference. Its break opens space for a possible decline toward the 80,612.40–42,900.20 range, where historical retracements and demand levels coincide. Recovery levels: A rebound would face immediate resistance at USD 94,000 and then at USD 97,000–98,000. Surpassing these levels could temporarily stabilize the market. Volatility and consolidation: The increase in volume indicates nervousness and position adjustments. Traders should watch intraday movements and key candle formations to detect potential rebound signals. RSI is currently in a neutral search zone at 45.21%, and MACD is in negative territory, confirming this recovery theory. If we look at the ActivTrades – Crypto Fear & Greed indicator, the movement is currently neutral and has not favored Altcoins. During the declines, a high Risk-Off was detected, but at this moment balance is perceived. The Whales Bitcoin’s drop below USD 90,000 combines fundamental and technical factors: miner pressure, influence of large holders, and macroeconomic uncertainty. In this period of high volatility, only prudence can be maintained by closely monitoring institutional supply and mining activity. This phase may represent a temporary pullback, but it also represents a strategic accumulation opportunity in the medium term for “Crypto Holders.” It can also be a potential entry zone for institutional investors looking for discounted prices to enter ETFs managed by large asset managers. ******************************************************************************************* The information provided does not constitute investment research. The material has not been prepared in accordance with the legal requirements designed to promote the independence of investment research and such should be considered a marketing communication. All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information. Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance and forecasting are not a synonym of a reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acting on the information provided does so at their own risk. Political risk is unpredictable. Central bank actions can vary. Platform tools do not guarantee success.