Bitcoin continues to struggle below key resistance levels, as the recent bounce around $113,000 has done little to ease the prevailing downward pressure. Despite attempts by bulls to stabilize the market, the move lacks strength in both price action and trading volume.

Bearish Indicators Confirm Weak Recovery

Bitcoin’s recent rebound remains confined beneath $114,000, and low volume further emphasizes the fragility of this bounce. On the hourly BTC chart, momentum indicators show sustained bearish pressure. The short-, medium-, and long-term simple moving averages—specifically the 50-, 100-, and 200-hour SMAs—are all trending lower and stacked in a typical bear-market configuration.

Hourly BTC chart shows a narrow rebound on low volume, with SMAs aligned bearishly.

Daily Chart Reveals Shift to Bearish Momentum

From a broader perspective, Bitcoin’s daily chart reveals a clear rupture below a rising trendline that previously acted as support. This technical breakdown signals a reversal in market sentiment, transitioning from a bullish to a firmly bearish stance. Both the long-term MACD histogram and the standard MACD are accelerating into the negative zone, reinforcing expectations of continued declines.

Daily BTC chart illustrates a momentum shift below trendline support, with MACD dipping further.

Key Support and Resistance Levels

As selling pressure persists, attention turns to the next critical support zones. The immediate floor lies at $111,982—a level that marked a bounce on August 3. Below that, the 100-day SMA at $110,053 is another pivotal threshold. A drop beneath this could expose Bitcoin to deeper declines, with the 200-day SMA offering support at $100,484.

On the upside, a move above the 50-day SMA, currently at $116,033, would be required to challenge this bearish narrative and potentially trigger a trend reversal. Additional resistance levels can be found at $120,000 and $122,056.

• Resistance: $116,033, $120,000, $122,056
• Support: $111,982, $110,053, $100,484

Outlook Remains Bearish Unless Conditions Shift

Overall, the technical landscape continues to favor the bears. Without a meaningful surge in buying volume and prices clearing the $116,033 mark, the path of least resistance seems to point downwards. Traders are urged to watch key moving averages and support thresholds as the next few sessions unfold.

Related: Cardano Bull Setup Points to December Rally

Read more: Markets Today: Bitcoin, Ether Recover From Lows Before FOMC Minutes