Bitcoin Keeps Testing the Same 2-Month Support & Resistance

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Bitcoin Keeps Testing the Same 2-Month Support & ResistanceBitcoin / TetherUSBINANCE:BTCUSDTDukesMarketAnalysisBitcoin Continues to Test Key Support Bitcoin is once again finding buying interest around the $81,250 area, a level that has repeatedly acted as support and resistance over the last two months. Multiple candle wicks, opens and closes around this zone highlight its significance, although continued testing raises questions about how much longer buyers can defend it. Short-Term Structure Remains Bearish Bitcoin continues to produce lower highs following the $87,395 peak, with the latest significant swing high forming at $84,352. A convincing break above this level would improve the short-term structure and reduce the likelihood of another lower high. 50-Day EMA Provides Additional Support Price recently declined towards the rising 50-day EMA, finding renewed buying interest before reaching the 0.618 Fibonacci retracement around $79,736. This confluence remains important, although a break beneath the recent $79,800 low would increase the likelihood of a deeper correction. Momentum Remains Unconvincing RSI continues to fluctuate around the 50 level, reflecting the ongoing uncertainty between buyers and sellers. Meanwhile, StochRSI remains extremely oversold, suggesting a short-term recovery is possible, although there is little evidence of a confirmed reversal. Declining Volume Reflects Indecision Trading volume has decreased as Bitcoin consolidates around support, particularly during the weekend. While selling pressure appears to have eased, buyers have yet to demonstrate the conviction needed to reverse the recent bearish structure. In Summary Bitcoin continues to defend the important $81,250 support area, although repeated tests suggest buyers remain under pressure. The rising 50-day EMA and nearby 0.618 Fibonacci level provide additional support, while oversold StochRSI leaves room for a short-term recovery. However, the sequence of lower highs remains a concern, with bulls needing to reclaim $84,352 to improve the outlook. A convincing break below $79,800 would weaken the structure further and increase the likelihood of a deeper correction.