Bitcoin Faces Key Resistance Levels Amid Market Fluctuations

According to BlockBeats, Coindesk analyst Omkar Godbole has identified significant resistance levels for Bitcoin, with the primary focus on the 200-hour simple moving average (SMA), currently near $88,000. This level has acted as a barrier to price increases since Monday, limiting upward movement. The next resistance zone to watch is between $98,000 and $99,000, which has previously formed intraday lows earlier this month and in June. Additionally, the most crucial support level is approximately $83,680, where the 100-week SMA intersects with a macro bullish trend line. A breach of this level would signal a clear risk, confirming a recent bearish shift and potentially leading to a deeper decline. The next support level is around $74,500, which served as a base for price recovery following selling pressure in early April.